NextNRG Stock Set to Reverse Split on Monday, September 14th (NASDAQ:NXXT)

Shares of NextNRG Inc. (NASDAQ:NXXT) are set to reverse split on Monday, September 14th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 13th.

NextNRG Stock Down 20.6%

Shares of NextNRG stock traded down $0.04 during trading on Thursday, reaching $0.15. 5,979,022 shares of the company traded hands, compared to its average volume of 2,503,379. NextNRG has a 1-year low of $0.15 and a 1-year high of $2.88. The company has a 50 day moving average price of $0.27 and a 200-day moving average price of $0.40.

NextNRG (NASDAQ:NXXT) last issued its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $27.75 million for the quarter. As a group, sell-side analysts predict that NextNRG will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. HC Wainwright reduced their target price on NextNRG to $1.50 and set a “buy” rating for the company in a research note on Friday, August 14th. Weiss Ratings raised NextNRG from a “sell (e-)” rating to a “sell (e)” rating in a research note on Tuesday, September 1st. Zacks Research upgraded NextNRG from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Wall Street Zen raised NextNRG to a “sell” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1.50.

Hedge Funds Weigh In On NextNRG

Several large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in NextNRG during the 2nd quarter worth approximately $26,000. XTX Topco Ltd bought a new position in shares of NextNRG in the fourth quarter valued at approximately $27,000. Intech Investment Management LLC bought a new position in shares of NextNRG in the second quarter valued at approximately $29,000. HRT Financial LP purchased a new position in shares of NextNRG during the fourth quarter valued at approximately $31,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of NextNRG during the second quarter valued at approximately $33,000. Institutional investors own 10.56% of the company’s stock.

NextNRG Company Profile

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.