NextDecade (NASDAQ:NEXT) Price Target Raised to $8.00

NextDecade (NASDAQ:NEXT) had its price objective raised by Morgan Stanley from $7.00 to $8.00 in a research note published on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on NEXT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextDecade in a research note on Monday, December 29th. TD Cowen decreased their target price on shares of NextDecade from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Thursday, March 5th. Finally, Capital One Financial initiated coverage on shares of NextDecade in a research note on Friday, February 6th. They set an “overweight” rating and a $7.00 target price for the company. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.00.

NextDecade Stock Performance

Shares of NEXT opened at $7.43 on Tuesday. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.54 and a quick ratio of 0.54. NextDecade has a one year low of $4.75 and a one year high of $12.12. The company has a 50-day simple moving average of $6.63 and a two-hundred day simple moving average of $6.01. The firm has a market capitalization of $1.97 billion, a PE ratio of -6.35 and a beta of 1.69.

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). On average, analysts anticipate that NextDecade will post -3.04 EPS for the current fiscal year.

Insider Buying and Selling at NextDecade

In other news, Director Pamela K.M. Beall purchased 71,500 shares of NextDecade stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $7.07 per share, with a total value of $505,505.00. Following the completion of the transaction, the director directly owned 71,500 shares of the company’s stock, valued at approximately $505,505. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextDecade

Several institutional investors and hedge funds have recently made changes to their positions in NEXT. Man Investment Partners US LP bought a new stake in shares of NextDecade during the fourth quarter valued at approximately $48,879,000. Adage Capital Partners GP L.L.C. increased its position in shares of NextDecade by 520.0% during the second 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. Wolf Hill Capital Management LP increased its position in shares of NextDecade by 25.9% during the fourth quarter. Wolf Hill Capital Management LP now owns 3,698,857 shares of the company’s stock valued at $19,493,000 after acquiring an additional 761,299 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of NextDecade by 77.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,676,336 shares of the company’s stock valued at $8,834,000 after acquiring an additional 732,550 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of NextDecade during the third quarter valued at approximately $4,935,000. 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.