Short Interest in NextNRG Inc. (NASDAQ:NXXT) Declines By 34.9%

NextNRG Inc. (NASDAQ:NXXT) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 3,804,212 shares, a decline of 34.9% from the May 31st total of 5,843,643 shares. Currently, 7.8% of the company’s stock are short sold. Based on an average trading volume of 4,796,417 shares, the short-interest ratio is presently 0.8 days.

NextNRG Price Performance

Shares of NASDAQ:NXXT opened at $0.37 on Thursday. The business’s 50-day moving average is $0.48 and its 200 day moving average is $0.72. NextNRG has a 1 year low of $0.28 and a 1 year high of $2.89. The firm has a market capitalization of $58.61 million, a P/E ratio of -0.53 and a beta of 0.04.

NextNRG (NASDAQ:NXXT) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $21.06 million for the quarter. On average, analysts expect that NextNRG will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of NextNRG to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextNRG in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of NextNRG from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of NextNRG by 131.2% during the third quarter. Vanguard Group Inc. now owns 1,049,265 shares of the company’s stock valued at $1,920,000 after buying an additional 595,448 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NextNRG by 57.2% in the fourth quarter. Geode Capital Management LLC now owns 868,998 shares of the company’s stock valued at $1,260,000 after purchasing an additional 316,250 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of NextNRG in the fourth quarter worth about $874,000. State Street Corp raised its stake in shares of NextNRG by 289.1% in the fourth quarter. State Street Corp now owns 551,524 shares of the company’s stock worth $800,000 after purchasing an additional 409,768 shares during the last quarter. Finally, Themes Management Co LLC acquired a new stake in shares of NextNRG during the first quarter worth about $100,000. Hedge funds and other institutional investors own 10.56% of the company’s stock.

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.