NextDecade Corporation (NASDAQ:NEXT) Receives $8.10 Consensus Price Target from Analysts

Shares of NextDecade Corporation (NASDAQ:NEXT) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.10.

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group started coverage on NextDecade in a research report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 target price on the stock. Morgan Stanley lifted their price target on shares of NextDecade from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 21st. Citigroup started coverage on shares of NextDecade in a research report on Wednesday, May 13th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NextDecade in a research note on Friday, July 24th.

Institutional Investors Weigh In On NextDecade

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its position in NextDecade by 88.0% in the 1st quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after acquiring an additional 1,900 shares in the last quarter. AQR Capital Management LLC bought a new stake in NextDecade during the 1st quarter worth approximately $386,000. Millennium Management LLC increased its holdings in NextDecade by 10.1% during the 1st quarter. Millennium Management LLC now owns 1,404,770 shares of the company’s stock worth $10,929,000 after purchasing an additional 128,568 shares in the last quarter. Caxton Associates LLP bought a new stake in NextDecade during the 1st quarter worth approximately $185,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NextDecade by 13.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 277,307 shares of the company’s stock worth $2,157,000 after purchasing an additional 33,941 shares during the last quarter. 66.74% of the stock is owned by institutional investors.

NextDecade Stock Performance

Shares of NEXT opened at $6.76 on Thursday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a 50-day moving average of $7.47 and a 200-day moving average of $7.06. The company has a market cap of $1.80 billion, a PE ratio of -4.97 and a beta of 1.55. NextDecade has a one year low of $4.75 and a one year high of $11.27.

NextDecade (NASDAQ:NEXT) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.41. On average, equities research analysts predict that NextDecade will post -2.94 EPS for the current fiscal year.

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.