NextDecade Corporation (NASDAQ:NEXT) Receives $6.67 Consensus Price Target from Analysts

NextDecade Corporation (NASDAQ:NEXT) has been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.6667.

Several research firms have recently commented on NEXT. Morgan Stanley lowered their price target on shares of NextDecade from $10.00 to $7.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. TD Cowen lowered their price target on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Capital One Financial began coverage on shares of NextDecade in a research report on Friday, February 6th. They set an “overweight” rating and a $7.00 price target for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NextDecade in a research report on Monday, December 29th.

NextDecade Stock Down 7.6%

Shares of NASDAQ:NEXT opened at $8.08 on Thursday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -6.91 and a beta of 1.69. NextDecade has a 1-year low of $4.75 and a 1-year high of $12.12. The company’s fifty day moving average is $6.15 and its two-hundred day moving average is $5.96. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.54 and a current ratio of 0.54.

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

Insider Activity at NextDecade

In other news, Director Pamela K.M. Beall purchased 71,500 shares of the stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of $7.07 per share, for a total transaction of $505,505.00. Following the completion of the transaction, the director owned 71,500 shares of the company’s stock, valued at approximately $505,505. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On NextDecade

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in NextDecade by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 10,378,992 shares of the company’s stock valued at $70,473,000 after buying an additional 52,803 shares in the last quarter. Man Investment Partners US LP bought a new position in NextDecade in the 4th quarter valued at about $48,879,000. Wolf Hill Capital Management LP grew its position in NextDecade by 25.9% in the 4th quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after buying an additional 761,299 shares in the last quarter. Geode Capital Management LLC grew its position in NextDecade by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,457,163 shares of the company’s stock valued at $18,222,000 after buying an additional 45,757 shares in the last quarter. Finally, Bank of America Corp DE grew its position in NextDecade by 16.7% in the 2nd quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock valued at $27,642,000 after buying an additional 444,518 shares in the last quarter. 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.