Analysts Set Nextdecade Corp (NASDAQ:NEXT) PT at $8.00

Nextdecade Corp (NASDAQ:NEXT) has received an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.00.

A number of brokerages have recently commented on NEXT. Morgan Stanley began coverage on shares of Nextdecade in a research note on Friday, September 20th. They issued an “underweight” rating and a $5.00 price target for the company. Zacks Investment Research lowered shares of Nextdecade from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. ValuEngine lowered shares of Nextdecade from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Finally, Evercore ISI began coverage on shares of Nextdecade in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $11.00 price target for the company.

Shares of NEXT stock traded up $0.07 during trading hours on Thursday, reaching $6.52. The company had a trading volume of 121,500 shares, compared to its average volume of 35,305. The business has a fifty day moving average price of $6.20 and a 200-day moving average price of $5.70. Nextdecade has a one year low of $3.15 and a one year high of $6.75. The firm has a market cap of $765.64 million, a PE ratio of -15.90 and a beta of -0.25.

Nextdecade (NASDAQ:NEXT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. As a group, research analysts anticipate that Nextdecade will post -0.44 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Nextdecade by 60.4% during the second quarter. BlackRock Inc. now owns 554,639 shares of the company’s stock valued at $3,505,000 after buying an additional 208,804 shares during the period. Northern Trust Corp grew its position in Nextdecade by 5.0% during the second quarter. Northern Trust Corp now owns 86,717 shares of the company’s stock valued at $548,000 after buying an additional 4,147 shares during the period. Charles Schwab Investment Management Inc. grew its position in Nextdecade by 38.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 33,210 shares of the company’s stock valued at $210,000 after buying an additional 9,206 shares during the period. Teacher Retirement System of Texas bought a new stake in Nextdecade during the third quarter valued at approximately $3,273,000. Finally, Bank of New York Mellon Corp grew its position in Nextdecade by 36.5% during the second quarter. Bank of New York Mellon Corp now owns 29,655 shares of the company’s stock valued at $187,000 after buying an additional 7,926 shares during the period. Institutional investors own 77.81% of the company’s stock.

Nextdecade Company Profile

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.

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Analyst Recommendations for Nextdecade (NASDAQ:NEXT)

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