NextNRG Inc. (NASDAQ:NXXT) Short Interest Update

NextNRG Inc. (NASDAQ:NXXT) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 3,804,212 shares, a drop of 34.9% from the May 31st total of 5,843,643 shares. Based on an average daily trading volume, of 4,796,417 shares, the days-to-cover ratio is currently 0.8 days. Currently, 7.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research raised NextNRG from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 16th. Wall Street Zen raised NextNRG to a “sell” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NextNRG in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, NextNRG presently has an average rating of “Hold” and an average target price of $5.00.

Hedge Funds Weigh In On NextNRG

A number of institutional investors have recently added to or reduced their stakes in NXXT. Themes Management Co LLC purchased a new position in NextNRG during the first quarter valued at $100,000. Corient Private Wealth LLC purchased a new stake in shares of NextNRG in the 4th quarter worth about $44,000. XTX Topco Ltd purchased a new stake in shares of NextNRG in the 4th quarter worth about $27,000. Wellington Management Group LLP increased its stake in shares of NextNRG by 36.1% in the 4th quarter. Wellington Management Group LLP now owns 54,017 shares of the company’s stock worth $78,000 after acquiring an additional 14,328 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of NextNRG by 337.1% in the 4th quarter. Millennium Management LLC now owns 157,243 shares of the company’s stock worth $228,000 after acquiring an additional 121,269 shares in the last quarter. Institutional investors own 10.56% of the company’s stock.

NextNRG Stock Performance

NextNRG stock opened at $0.36 on Friday. The stock’s 50 day simple moving average is $0.48 and its two-hundred day simple moving average is $0.71. The stock has a market cap of $56.32 million, a price-to-earnings ratio of -0.51 and a beta of 0.04. NextNRG has a fifty-two week low of $0.28 and a fifty-two week high of $2.89.

NextNRG (NASDAQ:NXXT) last posted its earnings results on Friday, May 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $21.06 million for the quarter. On average, analysts predict that NextNRG will post -0.26 earnings per share for the current year.

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.