Brokerages Set Nextdecade Corp (NASDAQ:NEXT) Price Target at $8.00

Shares of Nextdecade Corp (NASDAQ:NEXT) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.00.

A number of brokerages recently issued reports on NEXT. Morgan Stanley began coverage on Nextdecade in a report on Friday, September 20th. They issued an “underweight” rating and a $5.00 price target for the company. ValuEngine lowered Nextdecade from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Evercore ISI began coverage on Nextdecade in a report on Tuesday, September 17th. They issued an “outperform” rating and a $11.00 price target for the company.

Shares of NEXT traded down $0.04 during mid-day trading on Monday, reaching $6.21. 28,625 shares of the company’s stock traded hands, compared to its average volume of 35,108. The stock’s 50-day moving average is $6.31 and its two-hundred day moving average is $5.82. Nextdecade has a 12 month low of $3.15 and a 12 month high of $6.78.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NEXT. Teacher Retirement System of Texas purchased a new stake in Nextdecade during the third quarter worth $3,273,000. BlackRock Inc. lifted its holdings in Nextdecade by 60.4% during the second quarter. BlackRock Inc. now owns 554,639 shares of the company’s stock worth $3,505,000 after buying an additional 208,804 shares during the period. State Street Corp lifted its holdings in Nextdecade by 3.3% during the third quarter. State Street Corp now owns 222,905 shares of the company’s stock worth $1,284,000 after buying an additional 7,021 shares during the period. California Public Employees Retirement System lifted its holdings in Nextdecade by 5.8% during the third quarter. California Public Employees Retirement System now owns 171,700 shares of the company’s stock worth $989,000 after buying an additional 9,400 shares during the period. Finally, Verition Fund Management LLC lifted its holdings in Nextdecade by 6.4% during the second quarter. Verition Fund Management LLC now owns 135,900 shares of the company’s stock worth $859,000 after buying an additional 8,213 shares during the period. Hedge funds and other institutional investors own 75.46% 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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