Wall Street Zen Downgrades Next Technology (NASDAQ:NXTT) to Strong Sell

Next Technology (NASDAQ:NXTT) was downgraded by equities researchers at Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

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

Next Technology Price Performance

NXTT stock opened at $7.66 on Friday. The company has a 50 day moving average price of $77.54 and a 200 day moving average price of $167.03. Next Technology has a fifty-two week low of $5.22 and a fifty-two week high of $25,600.00. The stock has a market capitalization of $11.26 million, a PE ratio of -0.00 and a beta of 6.14.

Next Technology (NASDAQ:NXTT) last posted its quarterly earnings data on Friday, July 24th. The company reported ($20.00) earnings per share (EPS) for the quarter. The firm had revenue of $0.84 million for the quarter. Next Technology had a negative return on equity of 60.08% and a negative net margin of 2,355.97%.

Hedge Funds Weigh In On Next Technology

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

About Next Technology

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.