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

Next Technology Holding Inc. (NASDAQ:NXTT) shares are set to reverse split before the market opens on Monday, August 10th. The 1-100 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 9th.

Next Technology Stock Performance

Shares of NASDAQ:NXTT traded down $0.02 during mid-day trading on Thursday, reaching $0.07. The stock had a trading volume of 23,138,079 shares, compared to its average volume of 7,907,960. The firm has a 50 day simple moving average of $1.11 and a two-hundred day simple moving average of $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 released its quarterly earnings data on Friday, July 24th. The company reported ($0.20) earnings per share for the quarter. The firm had revenue of $0.84 million for the quarter. Next Technology had a negative return on equity of 60.08% and a negative net margin of 2,355.97%.

Wall Street Analyst Weigh In

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

Institutional Trading of Next Technology

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

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.