NextNRG (NASDAQ:NXXT) Rating Lowered to “Sell” at Wall Street Zen

NextNRG (NASDAQ:NXXT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of NextNRG in a research report on Wednesday, October 8th. Zacks Research raised shares of NextNRG to a “hold” rating in a research report on Wednesday, September 3rd. Finally, HC Wainwright initiated coverage on shares of NextNRG in a research report on Tuesday, September 2nd. They set a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.50.

NextNRG Stock Down 11.1%

NXXT opened at $1.04 on Friday. The stock has a fifty day moving average of $1.92 and a 200-day moving average of $2.14. The firm has a market capitalization of $139.79 million, a P/E ratio of -0.51 and a beta of -0.57. NextNRG has a 12-month low of $0.93 and a 12-month high of $4.34.

NextNRG (NASDAQ:NXXT) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The firm had revenue of $22.86 million during the quarter, compared to analyst estimates of $20.93 million.

Insider Activity

In other news, Director Sean Matthew Oppen purchased 25,000 shares of NextNRG stock in a transaction dated Monday, September 22nd. The stock was acquired at an average cost of $1.66 per share, for a total transaction of $41,500.00. Following the acquisition, the director directly owned 263,976 shares in the company, valued at $438,200.16. This represents a 10.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Avishai Vaknin sold 15,509 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $2.01, for a total value of $31,173.09. Following the completion of the sale, the chief technology officer directly owned 49,204 shares of the company’s stock, valued at approximately $98,900.04. The trade was a 23.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought a total of 1,035,000 shares of company stock worth $1,729,700 in the last three months. 81.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of NextNRG during the 2nd quarter valued at $26,000. Intech Investment Management LLC acquired a new position in NextNRG during the second quarter worth $29,000. JPMorgan Chase & Co. raised its holdings in NextNRG by 94.0% during the third 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. Veracity Capital LLC acquired a new stake in shares of NextNRG in the second quarter worth about $34,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of NextNRG in the first quarter worth about $84,000. Institutional investors and hedge funds own 10.56% of the company’s stock.

NextNRG Company 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.