Brokerages Set NextDecade Corporation (NASDAQ:NEXT) PT at $13.00

Shares of NextDecade Corporation (NASDAQ:NEXT) have been given a consensus recommendation of “Buy” by the four analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $13.00.

A number of analysts have recently issued reports on NEXT shares. Cowen upgraded shares of NextDecade from a “hold” rating to a “buy” rating in a report on Tuesday, June 24th. Seaport Res Ptn upgraded shares of NextDecade to a “strong-buy” rating in a report on Friday, July 25th. TD Cowen upgraded shares of NextDecade from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, June 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $15.00 target price (up from $10.00) on shares of NextDecade in a report on Friday, July 11th.

Hedge Funds Weigh In On NextDecade

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of NextDecade by 137.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,261 shares of the company’s stock valued at $25,000 after purchasing an additional 1,886 shares during the last quarter. Comerica Bank increased its holdings in shares of NextDecade by 88.0% in the first quarter. Comerica Bank now owns 4,060 shares of the company’s stock valued at $32,000 after purchasing an additional 1,900 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of NextDecade by 21,395.5% in the second quarter. Farther Finance Advisors LLC now owns 4,729 shares of the company’s stock valued at $42,000 after purchasing an additional 4,707 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of NextDecade by 2,302.6% in the first quarter. GAMMA Investing LLC now owns 6,535 shares of the company’s stock valued at $51,000 after purchasing an additional 6,263 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of NextDecade by 1,047.6% in the first quarter. MAI Capital Management now owns 7,230 shares of the company’s stock valued at $56,000 after purchasing an additional 6,600 shares during the last quarter. 66.74% of the stock is currently owned by institutional investors and hedge funds.

NextDecade Stock Performance

Shares of NEXT opened at $11.34 on Friday. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.85 and a current ratio of 0.85. NextDecade has a twelve month low of $4.27 and a twelve month high of $12.12. The firm has a market cap of $2.96 billion, a P/E ratio of -16.68 and a beta of 1.08. The firm’s 50 day moving average price is $9.25 and its two-hundred day moving average price is $8.29.

About NextDecade

NextDecade Corp. is a development company.