NextNRG Inc. (NASDAQ:NXXT) Sees Significant Increase in Short Interest

NextNRG Inc. (NASDAQ:NXXT) saw a large growth in short interest in April. As of April 15th, there was short interest totaling 6,302,171 shares, a growth of 19.1% from the March 31st total of 5,292,235 shares. Currently, 13.0% of the shares of the company are short sold. Based on an average trading volume of 4,192,834 shares, the days-to-cover ratio is presently 1.5 days.

NextNRG Trading Up 2.6%

NextNRG stock traded up $0.01 during mid-day trading on Friday, hitting $0.38. The company had a trading volume of 1,580,304 shares, compared to its average volume of 3,872,163. NextNRG has a 12-month low of $0.32 and a 12-month high of $3.50. The company’s fifty day moving average is $0.46 and its 200-day moving average is $1.08. The company has a market capitalization of $59.53 million, a price-to-earnings ratio of -0.17 and a beta of -0.31.

NextNRG (NASDAQ:NXXT) last announced its earnings results on Wednesday, April 15th. The company reported ($0.21) earnings per share (EPS) for the quarter. The firm had revenue of $23.01 million during the quarter. As a group, sell-side analysts expect that NextNRG will post -0.32 EPS for the current fiscal year.

Institutional Trading of NextNRG

Hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC acquired a new position in NextNRG in the 4th quarter valued at about $44,000. XTX Topco Ltd acquired a new position in NextNRG in the 4th quarter valued at about $27,000. Wellington Management Group LLP boosted 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 valued at $78,000 after buying an additional 14,328 shares during the period. Millennium Management LLC boosted 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 valued at $228,000 after buying an additional 121,269 shares during the period. Finally, Barclays PLC boosted its stake in shares of NextNRG by 108.5% in the 4th quarter. Barclays PLC now owns 56,411 shares of the company’s stock valued at $82,000 after buying an additional 29,357 shares during the period. 10.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research downgraded NextNRG from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “sell (e+)” rating on shares of NextNRG in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded NextNRG from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, NextNRG presently has an average rating of “Hold” and an average target price of $5.50.

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.