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

NextNRG Inc. (NASDAQ:NXXT)’s stock is going 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 closing bell on Sunday, September 13th.

NextNRG Stock Performance

NXXT traded down $0.04 during trading on Thursday, hitting $0.15. 5,979,022 shares of the company’s stock were exchanged, compared to its average volume of 2,503,379. NextNRG has a fifty-two week low of $0.15 and a fifty-two week high of $2.88. The business’s 50 day moving average is $0.27 and its two-hundred day moving average is $0.40.

NextNRG (NASDAQ:NXXT) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The business had revenue of $27.75 million for the quarter. On average, analysts expect that NextNRG will post -0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of NextNRG

Hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in NextNRG in the 2nd quarter worth approximately $26,000. Intech Investment Management LLC bought a new stake in NextNRG during the 2nd quarter valued at $29,000. JPMorgan Chase & Co. purchased a new stake in shares of NextNRG during the second quarter worth $33,000. XTX Topco Ltd purchased a new stake in shares of NextNRG during the fourth quarter worth $27,000. Finally, HRT Financial LP purchased a new stake in shares of NextNRG during the fourth quarter worth $31,000. 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.