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

Next Technology Holding Inc. (NASDAQ:NXTT)’s stock is going 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 closing bell on Sunday, August 9th.

Next Technology Stock Down 21.5%

NASDAQ:NXTT traded down $0.02 during trading hours on Thursday, hitting $0.07. 23,138,079 shares of the stock were exchanged, compared to its average volume of 7,907,960. The company’s 50 day moving average is $1.11 and its two-hundred day moving average is $2.12. Next Technology has a twelve month low of $0.07 and a twelve month high of $401.74.

Next Technology (NASDAQ:NXTT) last announced its quarterly earnings data on Friday, July 24th. The company reported ($0.20) EPS 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 Upgrades and Downgrades

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

Hedge Funds Weigh In On Next Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC bought a new stake in shares of Next Technology during the 2nd quarter valued at $412,000. XTX Topco Ltd bought a new position in shares of Next Technology in the 2nd quarter worth $76,000. Invesco Ltd. bought a new position in shares of Next Technology in the 2nd quarter worth $788,000. Qube Research & Technologies Ltd acquired a new stake in shares of Next Technology during the second quarter worth $32,000. Finally, Vident Advisory LLC acquired a new stake in shares of Next Technology during the second quarter worth $124,000. 2.71% of the stock is owned by institutional investors.

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.