Next Technology (NASDAQ:NXTT) Stock Set to Reverse Split on Monday, August 10th

Next Technology Holding Inc. (NASDAQ:NXTT) shares are set to reverse split on Monday, August 10th. The 1-100 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 9th.

Next Technology Stock Down 21.5%

NXTT traded down $0.02 on Thursday, reaching $0.07. The company had a trading volume of 23,138,079 shares, compared to its average volume of 1,866,437. The stock has a market capitalization of $10.61 million, a PE ratio of -0.00 and a beta of 6.14. Next Technology has a 1 year low of $0.07 and a 1 year high of $401.74. The stock has a 50-day moving average price of $1.11 and a 200-day moving average price of $2.12.

Next Technology (NASDAQ:NXTT) last posted its quarterly earnings data on Friday, July 24th. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $0.84 million during the quarter. Next Technology had a negative net margin of 2,355.97% and a negative return on equity of 60.08%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Next Technology from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Next Technology has a consensus rating of “Sell”.

Institutional Investors Weigh In On Next Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. purchased a new stake in Next Technology in the 2nd quarter worth approximately $788,000. Geode Capital Management LLC acquired a new position in Next Technology in the second quarter valued at $412,000. Vident Advisory LLC purchased a new position in Next Technology during the second quarter worth about $124,000. Tower Research Capital LLC TRC acquired a new stake in Next Technology in the 2nd quarter worth about $92,000. Finally, XTX Topco Ltd purchased a new stake in Next Technology in the 2nd quarter valued at about $76,000. 2.71% of the stock is currently owned by institutional investors and hedge funds.

Next Technology Company Profile

Next Technology Holding Inc provides technical services and solutions through its social e-commerce platform primarily in Mainland China. It offers YCloud, a micro-business cloud intelligent internationalization system that conducts multi-channel data analysis through the learning of big data and social recommendation relationships, as well as provides users with AI fission and management systems, and supply chain systems. The company’s YCloud system also provides micro-business owners with various payment methods, such as Alipay, WeChat, and UnionPay.