NextDecade (NASDAQ:NEXT) Shares Down 3.7%

NextDecade Co. (NASDAQ:NEXT)’s share price dropped 3.7% on Friday . The stock traded as low as $4.39 and last traded at $4.43. Approximately 8,827 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 2,117,195 shares. The stock had previously closed at $4.60.

NEXT has been the topic of a number of analyst reports. Credit Suisse Group upgraded shares of NextDecade from a “neutral” rating to an “outperform” rating and set a $3.00 target price on the stock in a research report on Wednesday, March 24th. Morgan Stanley upgraded NextDecade from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $2.00 to $6.00 in a research note on Monday. Evercore ISI upgraded NextDecade from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $3.00 to $9.00 in a research note on Tuesday. Finally, Zacks Investment Research raised NextDecade from a “sell” rating to a “hold” rating in a report on Tuesday, March 23rd.

The company’s 50-day moving average is $2.40.

NextDecade (NASDAQ:NEXT) last announced its quarterly earnings data on Monday, May 17th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. As a group, equities research analysts predict that NextDecade Co. will post -0.27 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in shares of NextDecade during the 4th quarter worth $43,000. Schonfeld Strategic Advisors LLC acquired a new position in NextDecade during the first quarter worth about $43,000. Rhumbline Advisers lifted its holdings in shares of NextDecade by 15.2% in the fourth quarter. Rhumbline Advisers now owns 31,177 shares of the company’s stock worth $65,000 after acquiring an additional 4,117 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of NextDecade by 16.7% in the 4th quarter. Wells Fargo & Company MN now owns 36,467 shares of the company’s stock valued at $76,000 after purchasing an additional 5,226 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of NextDecade by 326.5% in the 1st quarter. Barclays PLC now owns 28,936 shares of the company’s stock valued at $77,000 after purchasing an additional 22,152 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

About NextDecade (NASDAQ:NEXT)

NextDecade Corporation, a liquefied natural gas (LNG) development company, engages in the development activities related to the liquefaction and sale of LNG. It focusses on the development activities of Rio Grande LNG terminal facility located in the Port of Brownsville, southern Texas. The company is headquartered in Houston, Texas.

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