NextDecade Corporation (NASDAQ:NEXT) Receives $8.50 Consensus Price Target from Brokerages

Shares of NextDecade Corporation (NASDAQ:NEXT) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $8.50.

NEXT has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of NextDecade in a research report on Monday. TD Cowen decreased their price objective on NextDecade from $8.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Cowen cut NextDecade from a “buy” rating to a “hold” rating in a research report on Monday, September 15th. Zacks Research upgraded NextDecade from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $10.00 target price (down from $15.00) on shares of NextDecade in a research report on Friday, September 12th.

NextDecade Price Performance

NEXT opened at $5.47 on Tuesday. The firm has a market capitalization of $1.45 billion, a PE ratio of -7.49 and a beta of 1.90. The company has a debt-to-equity ratio of 3.34, a current ratio of 0.64 and a quick ratio of 0.64. The business’s 50-day moving average is $5.84 and its two-hundred day moving average is $7.96. NextDecade has a 1 year low of $4.99 and a 1 year high of $12.12.

NextDecade (NASDAQ:NEXT) last released its quarterly earnings results on Thursday, October 30th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.10). Research analysts anticipate that NextDecade will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Aerospace Co. Ltd. Hanwha acquired 851,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average cost of $5.83 per share, with a total value of $4,966,990.93. Following the transaction, the insider directly owned 25,620,222 shares of the company’s stock, valued at $149,365,894.26. This trade represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 7,177,861 shares of company stock worth $42,393,247 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On NextDecade

A number of large investors have recently bought and sold shares of NEXT. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 52,803 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in NextDecade by 2.3% during the second quarter. Catalyst Capital Advisors LLC now owns 4,704,427 shares of the company’s stock valued at $41,916,000 after purchasing an additional 107,004 shares during the period. Geode Capital Management LLC boosted its holdings in NextDecade by 12.3% in the second quarter. Geode Capital Management LLC now owns 3,541,633 shares of the company’s stock valued at $31,559,000 after purchasing an additional 386,613 shares during the last quarter. Bank of America Corp DE boosted its holdings in NextDecade by 16.7% in the second quarter. Bank of America Corp DE now owns 3,102,352 shares of the company’s stock valued at $27,642,000 after purchasing an additional 444,518 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NextDecade by 17.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248,028 shares of the company’s stock worth $17,490,000 after purchasing an additional 338,429 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.