NextDecade (NASDAQ:NEXT) Issues Quarterly Earnings Results

NextDecade (NASDAQ:NEXT) announced its earnings results on Wednesday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.41, FiscalAI reports.

NextDecade Price Performance

Shares of NextDecade stock traded up $0.39 during trading hours on Thursday, reaching $6.73. 2,911,238 shares of the company’s stock were exchanged, compared to its average volume of 2,583,866. The business has a fifty day moving average of $7.75 and a two-hundred day moving average of $6.96. The company has a market capitalization of $1.78 billion, a P/E ratio of -5.02 and a beta of 1.51. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.96. NextDecade has a 1 year low of $4.75 and a 1 year high of $11.59.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of NextDecade in a research report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price target for the company. Citigroup initiated coverage on NextDecade in a report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price objective on the stock. Morgan Stanley increased their target price 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 restated a “sell (d-)” rating on shares of NextDecade in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.10.

Hedge Funds Weigh In On NextDecade

A number of institutional investors and hedge funds have recently bought and sold shares of NEXT. Adage Capital Partners GP L.L.C. grew its stake in NextDecade by 520.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,550,000 shares of the company’s stock valued at $13,810,000 after acquiring an additional 1,300,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NextDecade by 77.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock worth $8,834,000 after purchasing an additional 732,550 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of NextDecade during the 3rd quarter worth approximately $4,935,000. Squarepoint Ops LLC grew its position in shares of NextDecade by 425.0% in the third quarter. Squarepoint Ops LLC now owns 790,009 shares of the company’s stock valued at $5,364,000 after purchasing an additional 639,534 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of 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 in the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.

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.