Next Technology Holding Inc. (NASDAQ:NXTT) Short Interest Down 82.4% in June

Key Points

• Short interest in Next Technology Holding (NASDAQ: NXTT) plunged 82.4% in June, falling to 9,502 shares by June 30 from 54,075 shares two weeks earlier. That leaves about 0.0% of shares sold short and a very low days-to-cover ratio of 0.1.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a “sell (d)” rating on the stock. MarketBeat data shows the stock’s average rating is also “Sell.”
• The stock was trading weakly and the company’s fundamentals remain strained, with shares down 3.7% to $1.03 and earnings showing a $11.86 loss per share on just $0.47 million in quarterly revenue.

Next Technology Holding Inc. (NASDAQ:NXTT - Get Free Report) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 9,502 shares, a decline of 82.4% from the June 15th total of 54,075 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 155,638 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Next Technology in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Hedge Funds Weigh In On Next Technology

Several institutional investors and hedge funds have recently modified their holdings of NXTT. BNP Paribas Financial Markets purchased a new position in Next Technology during the third quarter worth approximately $42,000. Empowered Funds LLC acquired a new position in shares of Next Technology during the 4th quarter worth approximately $61,000. Bridgeway Capital Management LLC acquired a new position in shares of Next Technology during the 4th quarter worth approximately $61,000. Qube Research & Technologies Ltd purchased a new position in shares of Next Technology during the 2nd quarter valued at approximately $32,000. Finally, DRW Securities LLC purchased a new position in shares of Next Technology during the 4th quarter valued at approximately $183,000. Hedge funds and other institutional investors own 2.71% of the company's stock.

Next Technology Stock Down 3.7%

Shares of NASDAQ:NXTT traded down $0.04 during midday trading on Friday, reaching $1.03. The company's stock had a trading volume of 103,819 shares, compared to its average volume of 156,969. The stock has a fifty day moving average of $1.42 and a 200 day moving average of $3.00. Next Technology has a twelve month low of $0.45 and a twelve month high of $580.00.

Next Technology (NASDAQ:NXTT - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($11.86) earnings per share for the quarter. The business had revenue of $0.47 million during the quarter.

About Next Technology

Next Technology Holding Inc provides technical services and solutions through its social e-commerce platform primarily in Mainland China. It offers YCloud, a micro-business cloud intelligent internationalization system that conducts multi-channel data analysis through the learning of big data and social recommendation relationships, as well as provides users with AI fission and management systems, and supply chain systems. The company's YCloud system also provides micro-business owners with various payment methods, such as Alipay, WeChat, and UnionPay.

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