NextNRG (NASDAQ:NXXT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of NextNRG (NASDAQ:NXXT) from a hold rating to a sell rating in a research report sent to investors on Saturday.

NXXT has been the subject of a number of other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of NextNRG in a report on Wednesday, October 8th. HC Wainwright began coverage on NextNRG in a research report on Tuesday, September 2nd. They set a “buy” rating and a $5.00 price objective for the company. Finally, Zacks Research raised shares of NextNRG to a “hold” rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NextNRG currently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

NextNRG Price Performance

Shares of NASDAQ NXXT opened at $1.09 on Friday. The firm’s 50-day moving average is $1.90 and its two-hundred day moving average is $2.13. The company has a market capitalization of $146.51 million, a PE ratio of -0.54 and a beta of -0.57. NextNRG has a 12-month low of $0.93 and a 12-month high of $4.34.

NextNRG (NASDAQ:NXXT) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company had revenue of $22.86 million during the quarter, compared to analysts’ expectations of $20.93 million.

Insider Activity

In other NextNRG news, CTO Avishai Vaknin sold 15,509 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $2.01, for a total value of $31,173.09. Following the sale, the chief technology officer directly owned 49,204 shares of the company’s stock, valued at approximately $98,900.04. This trade represents a 23.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sean Matthew Oppen purchased 25,000 shares of the stock in a transaction on Monday, September 22nd. The stock was acquired at an average price of $1.66 per share, with a total value of $41,500.00. Following the acquisition, the director directly owned 263,976 shares in the company, valued at $438,200.16. This trade represents a 10.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,035,000 shares of company stock valued at $1,729,700 over the last quarter. Company insiders own 81.67% of the company’s stock.

Institutional Investors Weigh In On NextNRG

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new position in NextNRG during the first quarter worth approximately $96,000. Veracity Capital LLC acquired a new position in shares of NextNRG in the 2nd quarter valued at $34,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of NextNRG during the 1st quarter valued at $110,000. OMERS ADMINISTRATION Corp purchased a new stake in NextNRG during the first quarter valued at about $84,000. Finally, Forefront Wealth Partners LLC acquired a new stake in NextNRG during the 3rd quarter worth approximately $917,000. 10.56% of the stock is owned by institutional investors and hedge funds.

NextNRG Company Profile

NextNRG, Inc engages in the provision of fuel delivery services. It provides app-based interface customers with the ability to select the time and location of their fueling. It offers diesel, red diesel, and REC-90. The company was founded by Yehuda Levy and Michael D. Farkas on March 28, 2019 and is headquartered in Miami, FL.