NextNRG (NASDAQ:NXXT) Stock Price Down 11.2% – Here’s What Happened

NextNRG Inc. (NASDAQ:NXXT) shares dropped 11.2% on Monday . The company traded as low as $0.3860 and last traded at $0.3861. Approximately 4,700,770 shares changed hands during trading, a decline of 89% from the average daily volume of 44,753,256 shares. The stock had previously closed at $0.4350.

Analyst Ratings Changes

A number of analysts have issued reports on NXXT shares. Zacks Research cut shares of NextNRG from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextNRG in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of NextNRG to a “sell” rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, NextNRG currently has an average rating of “Hold” and an average target price of $5.50.

NextNRG Price Performance

The company has a fifty day simple moving average of $0.48 and a two-hundred day simple moving average of $0.79. The company has a market capitalization of $67.55 million, a P/E ratio of -0.61 and a beta of -0.04.

NextNRG (NASDAQ:NXXT) last posted its earnings results on Friday, May 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $21.06 million for the quarter. Equities analysts anticipate that NextNRG Inc. will post -0.26 earnings per share for the current year.

Institutional Trading of NextNRG

A number of institutional investors and hedge funds have recently modified their holdings of NXXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of NextNRG in the second quarter worth $26,000. XTX Topco Ltd acquired a new stake in shares of NextNRG in the fourth quarter valued at about $27,000. Sovran Advisors LLC acquired a new stake in shares of NextNRG in the fourth quarter valued at about $29,000. Intech Investment Management LLC acquired a new stake in shares of NextNRG in the second quarter valued at about $29,000. Finally, HRT Financial LP acquired a new stake in shares of NextNRG in the fourth quarter valued at about $31,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

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.