Next Technology (NASDAQ:NXTT) Reaches New 12-Month Low - Here's What Happened

Key Points

• Next Technology Holding Inc. (NASDAQ:NXTT) reached a new 52-week low of $23.53 during trading, down from a previous close of $28.80.
• Despite the stock decline of 17.4%, Wall Street Zen upgraded NXTT to a "hold" rating in a recent research report.
• Institutional investors, including Invesco Ltd. and Geode Capital Management, have recently purchased new positions in Next Technology, indicating ongoing interest in the company.

Shares of Next Technology Holding Inc. (NASDAQ:NXTT - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $24.53 and last traded at $23.53, with a volume of 1776 shares traded. The stock had previously closed at $28.80.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Next Technology to a "hold" rating in a research report on Saturday, June 21st.

Next Technology Stock Down 17.4%

The firm's 50-day moving average price is $1.44 and its 200-day moving average price is $1.22.

Next Technology (NASDAQ:NXTT - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $54.00 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. purchased a new position in shares of Next Technology in the second quarter valued at $788,000. Geode Capital Management LLC purchased a new position in shares of Next Technology in the second quarter valued at $412,000. Vident Advisory LLC purchased a new position in shares of Next Technology in the second quarter valued at $124,000. Tower Research Capital LLC TRC purchased a new position in shares of Next Technology in the second quarter valued at $92,000. Finally, XTX Topco Ltd purchased a new position in shares of Next Technology in the second quarter valued at $76,000. 2.71% of the stock is currently owned by hedge funds and other institutional investors.

Next Technology Company Profile

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.

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