NextDecade (NASDAQ:NEXT) Stock Rating Upgraded by The Goldman Sachs Group

NextDecade (NASDAQ:NEXT) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

NEXT has been the subject of a number of other research reports. Citigroup initiated coverage on NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target for the company. Morgan Stanley raised their price objective on NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings raised NextDecade from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.10.

NextDecade Stock Down 0.3%

NEXT opened at $7.59 on Wednesday. NextDecade has a fifty-two week low of $4.75 and a fifty-two week high of $12.12. The company has a debt-to-equity ratio of 3.96, a quick ratio of 0.40 and a current ratio of 0.40. The company has a fifty day moving average of $8.04 and a two-hundred day moving average of $6.83. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -5.66 and a beta of 1.51.

NextDecade (NASDAQ:NEXT) last posted its earnings results on Thursday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.66) by $0.15. On average, research analysts expect that NextDecade will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On NextDecade

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Collective Family Office LLC boosted its stake in shares of NextDecade by 13.4% in the second quarter. Collective Family Office LLC now owns 17,194 shares of the company’s stock worth $130,000 after acquiring an additional 2,033 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of NextDecade by 56.7% during the first quarter. Pacer Advisors Inc. now owns 416,955 shares of the company’s stock worth $3,194,000 after buying an additional 150,844 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of NextDecade by 302.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,205 shares of the company’s stock worth $32,000 after buying an additional 3,161 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of NextDecade by 11.6% during the first quarter. Empowered Funds LLC now owns 356,264 shares of the company’s stock worth $2,729,000 after buying an additional 36,917 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of NextDecade by 10.0% in the first quarter. The Manufacturers Life Insurance Company now owns 77,953 shares of the company’s stock worth $597,000 after buying an additional 7,087 shares in the last quarter. Hedge funds and other institutional investors own 66.74% of the company’s stock.

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.