NextNRG Inc. (NASDAQ:NXXT) Shares Shorted: Short Interest Down 85.2% in September

NextNRG Inc. (NASDAQ:NXXT) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 621,465 shares, a decline of 85.2% from the August 31st total of 4,203,124 shares. Currently, 8.0% of the company’s stock are sold short. Based on an average trading volume of 280,484 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Trading of NextNRG

A number of institutional investors and hedge funds have recently modified their holdings of NXXT. Themes Management Co LLC bought a new stake in shares of NextNRG during the 1st quarter worth $100,000. Susquehanna International Group LLP grew its stake in NextNRG by 872.9% in the 2nd quarter. Susquehanna International Group LLP now owns 140,706 shares of the company’s stock valued at $49,000 after buying an additional 126,244 shares during the last quarter. Finally, BlackRock Inc. bought a new position in NextNRG in the 2nd quarter worth $33,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of NextNRG to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings upgraded shares of NextNRG from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, September 14th. HC Wainwright reduced their price objective on shares of NextNRG to $15.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Zacks Research upgraded shares of NextNRG from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NextNRG has a consensus rating of “Hold” and an average price target of $15.00.

NextNRG Price Performance

NXXT traded down $0.03 on Friday, hitting $0.85. The company had a trading volume of 157,559 shares, compared to its average volume of 282,243. The company’s fifty day moving average price is $2.25 and its 200 day moving average price is $3.66. NextNRG has a 1-year low of $0.82 and a 1-year high of $28.80. The stock has a market cap of $14.30 million, a price-to-earnings ratio of -0.19 and a beta of 0.04.

About NextNRG

NextNRG, Inc is an energy and mobility company focused on providing fueling and electric-vehicle charging solutions. Its services are designed to help consumers, businesses and commercial fleets access energy more conveniently through mobile fuel delivery and charging infrastructure.

The company’s business includes mobile gasoline and diesel delivery, as well as the development and operation of electric-vehicle charging capabilities. Its platform is intended to support fleet operators and other customers seeking alternatives to conventional, fixed-location fueling.

NextNRG was previously known as EZFill Holdings, Inc, a company associated with on-demand mobile fueling services.