NextNRG Inc. (NASDAQ:NXXT) Sees Large Increase in Short Interest

NextNRG Inc. (NASDAQ:NXXT) saw a significant increase in short interest in December. As of December 15th, there was short interest totaling 4,425,776 shares, an increase of 52.4% from the November 30th total of 2,903,665 shares. Currently, 10.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,540,083 shares, the short-interest ratio is currently 1.7 days. Based on an average daily trading volume, of 2,540,083 shares, the short-interest ratio is currently 1.7 days. Currently, 10.7% of the shares of the stock are sold short.

NextNRG Trading Down 10.1%

Shares of NXXT traded down $0.16 during midday trading on Monday, reaching $1.42. The stock had a trading volume of 1,097,637 shares, compared to its average volume of 709,146. The firm has a market cap of $190.86 million, a PE ratio of -0.70 and a beta of -0.53. The firm has a 50 day simple moving average of $1.58 and a 200-day simple moving average of $1.86. NextNRG has a one year low of $0.93 and a one year high of $4.34.

NextNRG (NASDAQ:NXXT) last issued its earnings results on Friday, November 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company had revenue of $22.86 million for the quarter, compared to analyst estimates of $20.93 million.

Insider Buying and Selling

In other news, Director Daniel Ronald Arbour sold 42,109 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $1.31, for a total value of $55,162.79. Following the transaction, the director directly owned 169,709 shares of the company’s stock, valued at $222,318.79. The trade was a 19.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Avishai Vaknin sold 15,509 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $2.01, for a total value of $31,173.09. Following the sale, the chief technology officer owned 49,204 shares in the company, valued at approximately $98,900.04. This trade represents a 23.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,368 shares of company stock valued at $182,697 in the last quarter. 69.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in NextNRG in the 2nd quarter valued at $26,000. Intech Investment Management LLC bought a new position in NextNRG during the second quarter worth $29,000. JPMorgan Chase & Co. acquired a new position in shares of NextNRG in the second quarter valued at $33,000. Veracity Capital LLC bought a new position in shares of NextNRG in the second quarter valued at about $34,000. Finally, Millennium Management LLC acquired a new stake in shares of NextNRG during the 3rd quarter worth about $66,000. 10.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NXXT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextNRG in a report on Wednesday, October 8th. HC Wainwright initiated coverage on shares of NextNRG in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $5.00 price objective for the company. Zacks Research raised shares of NextNRG to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Wall Street Zen upgraded shares of NextNRG from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NextNRG presently has an average rating of “Moderate Buy” and an average target price of $5.50.

About NextNRG

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.