Goldman Sachs Group Inc. Acquires New Stake in NextNRG Inc. $NXXT

Goldman Sachs Group Inc. acquired a new stake in NextNRG Inc. (NASDAQ:NXXT) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 30,410 shares of the company’s stock, valued at approximately $96,000.

Separately, OMERS ADMINISTRATION Corp purchased a new stake in shares of NextNRG in the first quarter worth $84,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael D. Farkas acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was bought at an average cost of $1.67 per share, for a total transaction of $1,670,000.00. Following the acquisition, the chief executive officer directly owned 75,254,300 shares in the company, valued at approximately $125,674,681. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sean Matthew Oppen acquired 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average price of $1.66 per share, with a total value of $41,500.00. Following the completion of the acquisition, the director owned 263,976 shares in the company, valued at $438,200.16. The trade was a 10.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,035,000 shares of company stock valued at $1,729,700. 81.67% of the stock is owned by company insiders.

Analysts Set New Price Targets

NXXT has been the topic of a number of recent analyst reports. Zacks Research upgraded NextNRG to a “hold” rating in a research report on Wednesday, September 3rd. HC Wainwright began coverage on NextNRG in a report on Tuesday, September 2nd. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, ThinkEquity raised NextNRG to a “strong-buy” rating and set a $6.00 target price on the stock in a research note on Monday, June 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $5.50.

NextNRG Stock Performance

Shares of NXXT opened at $1.83 on Wednesday. The company has a quick ratio of 0.21, a current ratio of 0.22 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average price is $1.64 and its 200-day moving average price is $2.45. NextNRG Inc. has a 52 week low of $0.93 and a 52 week high of $4.34. The stock has a market cap of $229.79 million, a P/E ratio of -0.27 and a beta of -0.60.

NextNRG (NASDAQ:NXXT) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.30) EPS for the quarter. The firm had revenue of $19.69 million during the quarter.

NextNRG Profile

NextNRG, Inc engages in the provision of fuel delivery services. It provides app-based interface customers with the ability to select the time and location of their fueling. It offers diesel, red diesel, and REC-90. The company was founded by Yehuda Levy and Michael D. Farkas on March 28, 2019 and is headquartered in Miami, FL.