Wall Street Zen cut shares of NextDecade (NASDAQ:NEXT – Free Report) from a sell rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.
NEXT has been the topic of several other research reports. The Goldman Sachs Group initiated coverage on NextDecade in a report on Wednesday, July 15th. They set a “neutral” rating and a $8.50 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NextDecade in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, NextDecade currently has a consensus rating of “Hold” and an average target price of $8.10.
Read Our Latest Research Report on NEXT
NextDecade Stock Up 6.4%
NEXT stock opened at $6.29 on Friday. NextDecade has a 52 week low of $4.75 and a 52 week high of $9.24. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 3.70. The firm has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $7.40. The stock has a market capitalization of $1.67 billion, a P/E ratio of -4.62 and a beta of 1.53.
NextDecade (NASDAQ:NEXT – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.41. Equities analysts forecast that NextDecade will post -2.10 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in NextDecade during the second quarter worth $179,608,000. Catalyst Capital Advisors LLC raised its position in NextDecade by 12.4% in the first quarter. Catalyst Capital Advisors LLC now owns 5,216,592 shares of the company’s stock valued at $39,959,000 after purchasing an additional 574,080 shares during the period. Bank of America Corp DE acquired a new position in shares of NextDecade in the 2nd quarter valued at $14,415,000. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of NextDecade by 0.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 644,417 shares of the company’s stock valued at $4,936,000 after purchasing an additional 2,235 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of NextDecade in the 2nd quarter valued at $3,613,000. 66.74% of the stock is currently owned by institutional investors and hedge funds.
About NextDecade
NextDecade Corporation is an energy company focused on developing liquefied natural gas (LNG) infrastructure and related carbon-management solutions. The company’s principal project is Rio Grande LNG, an LNG export facility located near Brownsville, Texas, on the U.S. Gulf Coast.
Rio Grande LNG is designed to receive natural gas, process it into LNG, and export the product by ship to customers in international markets. The project is being developed in multiple phases and is intended to serve energy markets in Europe, Asia and other regions seeking access to U.S.
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