NextNRG Inc. (NASDAQ:NXXT) Short Interest Down 34.9% in June

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

Wall Street Analyst Weigh In

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

NextNRG Trading Up 6.1%

Shares of NXXT stock opened at $0.37 on Thursday. NextNRG has a 12-month low of $0.28 and a 12-month high of $2.89. The business’s 50 day moving average is $0.48 and its two-hundred day moving average is $0.72. The company has a market capitalization of $58.61 million, a P/E ratio of -0.53 and a beta of 0.04.

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

Hedge Funds Weigh In On NextNRG

A number of large investors have recently added to or reduced their stakes in NXXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in NextNRG during the second quarter valued at $26,000. Intech Investment Management LLC acquired a new position in shares of NextNRG during the 2nd quarter worth about $29,000. JPMorgan Chase & Co. lifted its stake in NextNRG by 94.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the company’s stock valued at $43,000 after buying an additional 11,261 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 in the last quarter. Finally, XTX Topco Ltd acquired a new stake in NextNRG in the 4th quarter worth about $27,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

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.