NextDecade (NASDAQ:NEXT) Raised to Strong-Buy at Citigroup

NextDecade (NASDAQ:NEXT) was upgraded by research analysts at Citigroup to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities analysts have also commented on NEXT. Morgan Stanley upped their price objective on shares of NextDecade from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Capital One Financial began coverage on shares of NextDecade in a report on Friday, February 6th. They issued an “overweight” rating and a $7.00 price objective on the stock. Finally, TD Cowen reduced their price objective on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.00.

NextDecade Stock Performance

Shares of NEXT stock opened at $8.92 on Wednesday. The firm’s 50 day moving average price is $7.27 and its 200-day moving average price is $6.14. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40. NextDecade has a one year low of $4.75 and a one year high of $12.12. The firm has a market cap of $2.36 billion, a P/E ratio of -6.66 and a beta of 1.65.

NextDecade (NASDAQ:NEXT) last issued its quarterly earnings data on Friday, February 27th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.20). As a group, equities research analysts predict that NextDecade will post -2.16 EPS for the current year.

Insider Activity at NextDecade

In related news, Director Pamela K.M. Beall bought 71,500 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average cost of $7.07 per share, with a total value of $505,505.00. Following the transaction, the director directly owned 71,500 shares of the company’s stock, valued at approximately $505,505. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL grew its position in NextDecade by 262.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 912,589 shares of the company’s stock worth $6,196,000 after purchasing an additional 661,028 shares during the last quarter. JPMorgan Chase & Co. grew its position in NextDecade by 168.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 394,476 shares of the company’s stock worth $2,678,000 after purchasing an additional 247,618 shares during the last quarter. Citigroup Inc. grew its position in NextDecade by 1,112.2% during the 3rd quarter. Citigroup Inc. now owns 681,904 shares of the company’s stock worth $4,630,000 after purchasing an additional 625,652 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in NextDecade by 21.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 642,182 shares of the company’s stock worth $3,384,000 after purchasing an additional 112,300 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC purchased a new position in NextDecade during the 4th quarter worth $613,000. 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.