NextDecade (NASDAQ:NEXT) Upgraded by The Goldman Sachs Group to “Hold” Rating

The Goldman Sachs Group upgraded shares of NextDecade (NASDAQ:NEXT) to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Weiss Ratings upgraded NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, April 27th. Morgan Stanley boosted their price objective on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Finally, Citigroup initiated coverage on NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.10.

NextDecade Price Performance

Shares of NEXT opened at $7.59 on Wednesday. The firm has a fifty day moving average price of $8.04 and a 200 day moving average price of $6.83. The stock has a market cap of $2.01 billion, a PE ratio of -5.66 and a beta of 1.51. NextDecade has a 1-year low of $4.75 and a 1-year high of $12.12. The company has a debt-to-equity ratio of 3.96, a current ratio of 0.40 and a quick ratio of 0.40.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Thursday, April 30th. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.15. As a group, sell-side analysts anticipate that NextDecade will post -2.16 EPS for the current year.

Institutional Investors Weigh In On NextDecade

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE grew its holdings in shares of NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock worth $26,000 after buying an additional 3,873 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in NextDecade during the 2nd quarter valued at approximately $36,000. Comerica Bank raised its stake in NextDecade by 88.0% during the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in NextDecade by 302.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after acquiring an additional 3,161 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in NextDecade by 153.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the company’s stock worth $43,000 after acquiring an additional 3,396 shares during the period. 66.74% of the stock is owned by hedge funds and other institutional investors.

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.