NextDecade (NASDAQ:NEXT) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of NextDecade (NASDAQ:NEXT) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on NEXT. The Goldman Sachs Group began coverage on NextDecade in a report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price target for the company. Citigroup assumed coverage on shares of NextDecade in a report on Wednesday, May 13th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.10.

NextDecade Price Performance

NEXT stock opened at $7.34 on Friday. The company has a market capitalization of $1.95 billion, a P/E ratio of -5.40 and a beta of 1.57. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.37 and a current ratio of 0.37. NextDecade has a 52-week low of $4.75 and a 52-week high of $10.84. The business has a 50-day simple moving average of $7.26 and a two-hundred day simple moving average of $7.29.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.41. Research analysts expect that NextDecade will post -2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Nykredit A S bought a new stake in shares of NextDecade in the 2nd quarter worth approximately $25,000. US Bancorp DE grew its holdings in NextDecade by 22,782.4% during the third quarter. US Bancorp DE now owns 3,890 shares of the company’s stock valued at $26,000 after purchasing an additional 3,873 shares during the period. EverSource Wealth Advisors LLC grew its holdings in NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock valued at $32,000 after purchasing an additional 3,161 shares during the period. Comerica Bank increased its holdings in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock worth $32,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of NextDecade in the second quarter worth about $36,000. 66.74% of the stock is owned by institutional investors.

About NextDecade

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.