NextNRG Inc. (NASDAQ:NXXT) Stock Short Interest Drops 93.8%

NextNRG Inc. (NASDAQ:NXXT) saw a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 45,771 shares, a decrease of 93.8% from the October 15th total of 734,847 shares. Based on an average daily volume of 23,591 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.9% of the company’s stock are short sold.

Institutional Investors Weigh In On NextNRG

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in NextNRG during the 2nd quarter worth $33,000. Susquehanna International Group LLP grew its stake in shares of NextNRG by 872.9% in the 2nd quarter. Susquehanna International Group LLP now owns 140,706 shares of the company’s stock worth $49,000 after acquiring an additional 126,244 shares in the last quarter. Finally, Themes Management Co LLC purchased a new stake in shares of NextNRG in the first quarter valued at about $100,000. 10.56% of the stock is owned by hedge funds and other institutional investors.

NextNRG Stock Up 572.4%

NXXT stock opened at $1.25 on Wednesday. The firm has a market capitalization of $2.11 million, a PE ratio of -0.02 and a beta of 0.33. NextNRG has a twelve month low of $0.17 and a twelve month high of $222.00. The stock’s 50 day moving average is $8.46 and its 200-day moving average is $37.79.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. HC Wainwright reduced their price target on shares of NextNRG to $150.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Wall Street Zen upgraded shares of NextNRG to a “hold” rating in a report on Saturday, September 19th. Finally, Weiss Ratings upgraded shares of NextNRG from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, September 14th. One 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. Based on data from MarketBeat, NextNRG presently has an average rating of “Hold” and an average price target of $150.00.

About NextNRG

NextNRG, Inc. (NASDAQ:NXXT) is an energy technology company focused on developing and deploying next-generation energy and mobility solutions. The company works to support the transition toward electrified transportation and more flexible, distributed energy systems. Its business activities include electric vehicle charging infrastructure, fleet electrification, battery energy storage, renewable energy integration and related energy-management technologies. These solutions are designed to help commercial customers, property owners and other organizations manage electricity demand, improve energy efficiency and support the adoption of electric vehicles.