NextNRG (NASDAQ:NXXT) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of NextNRG (NASDAQ:NXXT) from a hold rating to a strong sell rating in a research report report published on Tuesday,Zacks.com reports.

NXXT has been the topic of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of NextNRG in a research note on Tuesday. Wall Street Zen cut shares of NextNRG from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NextNRG presently has a consensus rating of “Hold” and a consensus target price of $5.50.

NextNRG Price Performance

Shares of NXXT opened at $0.38 on Tuesday. The firm has a 50-day simple moving average of $0.50 and a two-hundred day simple moving average of $1.15. NextNRG has a 1-year low of $0.32 and a 1-year high of $3.59. The stock has a market cap of $59.20 million, a PE ratio of -0.17 and a beta of -0.32.

NextNRG (NASDAQ:NXXT) last posted its quarterly earnings data on Wednesday, April 15th. The company reported ($0.21) earnings per share for the quarter. The company had revenue of $23.01 million for the quarter. As a group, sell-side analysts expect that NextNRG will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of NextNRG

Several hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC purchased a new stake in shares of NextNRG in the 4th quarter valued at approximately $44,000. XTX Topco Ltd acquired a new stake in NextNRG in the fourth quarter valued at $27,000. Wellington Management Group LLP raised its stake in NextNRG by 36.1% in the fourth quarter. Wellington Management Group LLP now owns 54,017 shares of the company’s stock valued at $78,000 after buying an additional 14,328 shares in the last quarter. Millennium Management LLC boosted its position in shares of NextNRG by 337.1% during the 4th quarter. Millennium Management LLC now owns 157,243 shares of the company’s stock worth $228,000 after acquiring an additional 121,269 shares in the last quarter. Finally, Barclays PLC raised its position in shares of NextNRG by 108.5% during the 4th quarter. Barclays PLC now owns 56,411 shares of the company’s stock worth $82,000 after acquiring an additional 29,357 shares in the last quarter. Institutional investors and hedge funds own 10.56% of the company’s stock.

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.