TD Cowen Issues Pessimistic Forecast for NextDecade (NASDAQ:NEXT) Stock Price

NextDecade (NASDAQ:NEXT) had its price objective lowered by stock analysts at TD Cowen from $7.00 to $6.00 in a report issued on Thursday, Marketbeat reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target points to a potential upside of 6.57% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. Capital One Financial began coverage on NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 target price on the stock. Finally, Morgan Stanley cut their price target on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.67.

NextDecade Price Performance

Shares of NASDAQ NEXT opened at $5.63 on Thursday. The company has a market capitalization of $1.49 billion, a PE ratio of -4.81 and a beta of 2.02. The company has a quick ratio of 0.64, a current ratio of 0.54 and a debt-to-equity ratio of 3.70. The stock’s 50 day moving average price is $5.26 and its 200-day moving average price is $6.32. NextDecade has a twelve month low of $4.75 and a twelve month high of $12.12.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings results on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). On average, equities analysts anticipate that NextDecade will post -0.61 EPS for the current year.

Insider Transactions at NextDecade

In other NextDecade news, major shareholder Aerospace Co. Ltd. Hanwha acquired 800,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were acquired at an average cost of $5.54 per share, with a total value of $4,432,000.00. Following the completion of the acquisition, the insider directly owned 26,420,222 shares in the company, valued at $146,368,029.88. This trade represents a 3.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders bought 2,584,569 shares of company stock valued at $15,140,368. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

Several large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its position in shares of NextDecade by 433.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 18,259 shares of the company’s stock valued at $96,000 after purchasing an additional 14,836 shares during the period. Pacer Advisors Inc. boosted its holdings in NextDecade by 7.7% in the 4th quarter. Pacer Advisors Inc. now owns 266,111 shares of the company’s stock worth $1,402,000 after buying an additional 19,045 shares during the period. Virtu Financial LLC purchased a new position in NextDecade in the 4th quarter valued at approximately $97,000. Invesco Ltd. grew its stake in NextDecade by 5.1% in the 4th quarter. Invesco Ltd. now owns 82,717 shares of the company’s stock valued at $436,000 after buying an additional 4,008 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in NextDecade by 118.8% during the 4th quarter. Corient Private Wealth LLC now owns 137,078 shares of the company’s stock valued at $677,000 after acquiring an additional 74,425 shares during the period. Hedge funds and other institutional investors own 66.74% of the company’s stock.

NextDecade Company Profile

NextDecade Corporation is a Houston?based liquefied natural gas (LNG) and decarbonization company focused on the development, engineering, construction and operation of large?scale LNG export facilities. The company’s core mission is to deliver cleaner energy solutions to global customers while integrating carbon capture and sequestration technologies to reduce greenhouse gas emissions. NextDecade’s projects are designed to leverage abundant U.S. natural gas supplies to meet growing worldwide demand for low?carbon fuel.

NextDecade’s flagship project, Rio Grande LNG, is located at the Port of Brownsville in southern Texas.