NextNRG (NASDAQ:NXXT) Shares Down 3.5% – Should You Sell?

NextNRG Inc. (NASDAQ:NXXT) dropped 3.5% during trading on Thursday . The company traded as low as $0.33 and last traded at $0.3425. Approximately 3,274,422 shares changed hands during trading, a decline of 60% from the average daily volume of 8,090,002 shares. The stock had previously closed at $0.3551.

Analyst Ratings Changes

Several research firms have recently commented on NXXT. Zacks Research upgraded shares of NextNRG from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextNRG in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of NextNRG to a “sell” rating in a 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 given a Sell rating to the company. According to MarketBeat.com, NextNRG presently has an average rating of “Hold” and an average target price of $5.00.

NextNRG Stock Performance

The business has a 50 day moving average of $0.47 and a two-hundred day moving average of $0.59. The stock has a market capitalization of $54.03 million, a PE ratio of -0.49 and a beta of 0.04.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in shares of NextNRG during the 1st quarter worth approximately $96,000. Geode Capital Management LLC lifted its position in NextNRG by 2,274.3% during the second quarter. Geode Capital Management LLC now owns 314,454 shares of the company’s stock valued at $871,000 after acquiring an additional 301,210 shares during the last quarter. Intech Investment Management LLC acquired a new stake in NextNRG in the second quarter valued at approximately $29,000. JPMorgan Chase & Co. purchased a new position in NextNRG in the second quarter worth $33,000. Finally, New York State Common Retirement Fund acquired a new position in shares of NextNRG during the second quarter worth $103,000. Hedge funds and other institutional investors own 10.56% of the company’s stock.

About NextNRG

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.