Nextdecade (NEXT) Downgraded by Bank of America

Nextdecade (NASDAQ:NEXT) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports.

NEXT has been the subject of several other research reports. Zacks Investment Research raised Nextdecade from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Tuesday, August 14th. Cowen set a $9.00 target price on Nextdecade and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Stifel Nicolaus set a $8.00 target price on Nextdecade and gave the stock a “hold” rating in a research note on Saturday, August 11th. Finally, ValuEngine raised Nextdecade from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $8.50.

Shares of NASDAQ NEXT opened at $5.16 on Friday. Nextdecade has a 12 month low of $3.95 and a 12 month high of $10.80.

Nextdecade (NASDAQ:NEXT) last issued its quarterly earnings data on Thursday, August 9th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.06. research analysts anticipate that Nextdecade will post -0.35 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. 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 purchased a new stake in shares of Nextdecade during the second quarter valued at approximately $160,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Nextdecade by 44.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 55,799 shares of the company’s stock valued at $382,000 after purchasing an additional 17,151 shares during the period. Deprince Race & Zollo Inc. boosted its stake in shares of Nextdecade by 33.8% during the second quarter. Deprince Race & Zollo Inc. now owns 57,000 shares of the company’s stock valued at $390,000 after purchasing an additional 14,400 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Nextdecade by 202.0% during the first quarter. Millennium Management LLC now owns 163,526 shares of the company’s stock valued at $808,000 after purchasing an additional 109,373 shares during the period. 86.62% of the stock is owned by institutional investors and hedge funds.

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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