Nextdecade (NASDAQ:NEXT) Downgraded by Zacks Investment Research
According to Zacks, “NextDecade Corporation is a development and management company of land-based and floating LNG projects primarily in the global integrated natural gas industry. It principally focuses on a land-based project on the U.S. Gulf Coast called Rio Grande LNG in Brownsville, Texas. NextDecade Corporation is based in The Woodlands, United States. “
Separately, Morgan Stanley restated a sell rating on shares of Nextdecade in a report on Sunday, July 5th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in Nextdecade by 219.0% during the first quarter. Wells Fargo & Company MN now owns 24,206 shares of the company’s stock worth $46,000 after acquiring an additional 16,619 shares in the last quarter. Jane Street Group LLC bought a new stake in Nextdecade during the second quarter worth $70,000. Bank of New York Mellon Corp raised its position in Nextdecade by 133.6% during the second quarter. Bank of New York Mellon Corp now owns 65,817 shares of the company’s stock worth $143,000 after acquiring an additional 37,644 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Nextdecade by 42.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 69,678 shares of the company’s stock worth $151,000 after acquiring an additional 20,752 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Nextdecade during the second quarter worth $180,000. 76.12% of the stock is currently owned by hedge funds and other institutional investors.
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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