Nextdecade (NASDAQ:NEXT) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Nextdecade (NASDAQ:NEXT) from a hold rating to a sell rating in a report published on Saturday morning, Zacks.com reports.

According to Zacks, “NextDecade Corporation is a development and management company of land-based and floating LNG projects primarily in the global integrated natural gas industry. It principally focuses on a land-based project on the U.S. Gulf Coast called Rio Grande LNG in Brownsville, Texas. NextDecade Corporation is based in The Woodlands, United States. “

Separately, Gabelli initiated coverage on shares of Nextdecade in a report on Monday, May 13th. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $5.83.



Shares of NASDAQ:NEXT opened at $4.61 on Friday. The firm has a fifty day moving average price of $5.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.84 and a current ratio of 6.84. Nextdecade has a one year low of $3.15 and a one year high of $6.86. The company has a market cap of $513.99 million, a P/E ratio of -11.24 and a beta of -0.17.

Nextdecade (NASDAQ:NEXT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. As a group, sell-side analysts forecast that Nextdecade will post -0.63 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Nextdecade by 5.0% during the 2nd quarter. Northern Trust Corp now owns 86,717 shares of the company’s stock worth $548,000 after acquiring an additional 4,147 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Nextdecade by 11.9% during the 1st quarter. Deprince Race & Zollo Inc. now owns 56,800 shares of the company’s stock worth $314,000 after acquiring an additional 6,020 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Nextdecade by 36.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 29,655 shares of the company’s stock worth $187,000 after acquiring an additional 7,926 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Nextdecade by 38.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 33,210 shares of the company’s stock worth $210,000 after acquiring an additional 9,206 shares during the last quarter. Finally, Gradient Investments LLC bought a new stake in shares of Nextdecade during the 2nd quarter worth $63,000. 85.32% of the stock is owned by institutional investors.

About Nextdecade

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development of LNG export projects and associated pipelines in the State of Texas. It intends to develop a portfolio of LNG projects, including Rio Grande LNG export facility, which has a liquefaction capacity of 27 million tons of LNG per annum located in Brownsville, Texas; and the 137-mile Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.

Further Reading: Ex-Dividend

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