Shares of Nextdecade Corp (NASDAQ:NEXT) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $6.38.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Nextdecade from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Thursday. Credit Suisse Group assumed coverage on shares of Nextdecade in a research note on Thursday, October 11th. They set a “neutral” rating and a $6.00 price objective on the stock. Cowen lowered shares of Nextdecade from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 26th. Stifel Nicolaus set a $8.00 price objective on shares of Nextdecade and gave the company a “hold” rating in a research note on Saturday, August 11th. Finally, Bank of America lowered shares of Nextdecade from a “buy” rating to a “neutral” rating and set a $6.00 price objective on the stock. in a research note on Friday, September 7th.
Nextdecade stock traded down $0.03 during mid-day trading on Friday, hitting $5.07. The stock had a trading volume of 5,936 shares, compared to its average volume of 28,784. Nextdecade has a one year low of $3.95 and a one year high of $10.29.
Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System purchased a new stake in shares of Nextdecade during the second quarter valued at approximately $137,000. Bank of New York Mellon Corp bought a new stake in shares of Nextdecade in the second quarter worth $160,000. Schwab Charles Investment Management Inc. increased its stake in shares of Nextdecade by 44.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 55,799 shares of the company’s stock worth $382,000 after buying an additional 17,151 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in shares of Nextdecade by 33.8% in the second quarter. Deprince Race & Zollo Inc. now owns 57,000 shares of the company’s stock worth $390,000 after buying an additional 14,400 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Nextdecade by 434.9% in the second quarter. Northern Trust Corp now owns 85,450 shares of the company’s stock worth $585,000 after buying an additional 69,474 shares during the last quarter. Institutional investors own 86.33% 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 4.5 Bcf/d Rio Bravo Pipeline that transports natural gas from the Agua Dulce supply area to Rio Grande LNG.
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