NextNRG Inc. (NASDAQ:NXXT) Sees Large Decline in Short Interest
by Michael Walen · The Markets DailyNextNRG Inc. (NASDAQ:NXXT – Get Free Report) saw a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 4,878,830 shares, a drop of 20.7% from the February 12th total of 6,154,978 shares. Based on an average trading volume of 1,314,670 shares, the short-interest ratio is currently 3.7 days. Currently, 11.7% of the shares of the company are short sold. Currently, 11.7% of the shares of the company are short sold. Based on an average trading volume of 1,314,670 shares, the short-interest ratio is currently 3.7 days.
NextNRG Stock Performance
Shares of NXXT stock traded up $0.00 during midday trading on Friday, hitting $0.52. 1,418,227 shares of the company were exchanged, compared to its average volume of 1,257,576. NextNRG has a 52 week low of $0.47 and a 52 week high of $3.59. The firm has a market capitalization of $69.89 million, a P/E ratio of -0.26 and a beta of -0.53. The firm’s 50 day moving average price is $0.87 and its two-hundred day moving average price is $1.43.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on NXXT. Wall Street Zen cut NextNRG from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (e+)” rating on shares of NextNRG in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, NextNRG has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.
Read Our Latest Research Report on NXXT
Insider Buying and Selling at NextNRG
In other news, Director Daniel Ronald Arbour sold 31,446 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $1.46, for a total transaction of $45,911.16. Following the transaction, the director directly owned 86,513 shares in the company, valued at $126,308.98. The trade was a 26.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 69.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On NextNRG
A number of institutional investors have recently made changes to their positions in NXXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of NextNRG in the second quarter valued at approximately $26,000. Intech Investment Management LLC acquired a new stake in NextNRG during the 2nd quarter worth approximately $29,000. JPMorgan Chase & Co. bought a new stake in NextNRG in the 2nd quarter valued at $33,000. XTX Topco Ltd bought a new stake in NextNRG in the 4th quarter valued at $27,000. Finally, Sovran Advisors LLC acquired a new position in NextNRG in the 4th quarter valued at $29,000. Institutional investors own 10.56% of the company’s stock.
NextNRG Company Profile
NextNRG Corp (NASDAQ: NXXT) is a technology-driven energy company specializing in the design, development and deployment of turnkey microgrid solutions and distributed energy systems. The company’s offerings include advanced energy storage systems, solar generation integration, and digital control platforms that allow commercial, industrial and utility customers to optimize energy reliability and reduce dependence on traditional grid infrastructure.
NextNRG’s services span the full project lifecycle, encompassing initial feasibility studies, engineering and procurement, construction management, and ongoing operations and maintenance.