Short Interest in Next Technology Holding Inc. (NASDAQ:NXTT) Declines By 43.3%

Next Technology Holding Inc. (NASDAQ:NXTT) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 22,318 shares, a decline of 43.3% from the July 15th total of 39,372 shares. Based on an average trading volume of 221,967 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Next Technology Trading Down 6.1%

NXTT stock traded down $0.40 during mid-day trading on Monday, hitting $6.13. 27,299 shares of the company were exchanged, compared to its average volume of 22,507. The company has a market capitalization of $9.01 million, a PE ratio of -0.00 and a beta of 6.14. Next Technology has a twelve month low of $5.22 and a twelve month high of $27,200.00. The firm has a fifty day simple moving average of $92.93 and a 200 day simple moving average of $185.00.

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

Institutional Trading of Next Technology

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

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.