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

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

NextNRG Price Performance

NASDAQ:NXXT opened at $0.36 on Friday. NextNRG has a 1-year low of $0.28 and a 1-year high of $2.89. The company has a 50-day moving average of $0.48 and a 200 day moving average of $0.71. The firm has a market cap of $56.32 million, a PE ratio of -0.51 and a beta of 0.04.

NextNRG (NASDAQ:NXXT) last posted its earnings results on Friday, May 15th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $21.06 million for the quarter. Sell-side analysts anticipate that NextNRG will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On NextNRG

Several institutional investors have recently bought and sold shares of NXXT. Corient Private Wealth LLC bought a new stake in NextNRG during the 4th quarter valued at $63,000. Wells Fargo & Company MN increased its holdings in shares of NextNRG by 193.7% in the 4th quarter. Wells Fargo & Company MN now owns 40,925 shares of the company’s stock valued at $59,000 after acquiring an additional 26,991 shares during the period. JPMorgan Chase & Co. raised its position in shares of NextNRG by 94.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,241 shares of the company’s stock worth $43,000 after acquiring an additional 11,261 shares in the last quarter. HRT Financial LP bought a new position in shares of NextNRG in the 4th quarter worth $31,000. Finally, Intech Investment Management LLC purchased a new stake in shares of NextNRG during the 2nd quarter worth $29,000. 10.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXXT has been the subject of a number of research reports. Zacks Research upgraded NextNRG from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings restated a “sell (e+)” rating on shares of NextNRG in a report on Tuesday, April 21st. Finally, Wall Street Zen raised NextNRG to a “sell” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.00.

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.