Next Technology (NASDAQ:NXTT) Sets New 1-Year 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.

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

Analyst Ratings Changes

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

Next Technology Trading Up 2.1%

The firm's 50-day simple moving average is $249.52 and its 200 day simple moving average is $239.14.

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

Hedge Funds Weigh In On Next Technology

Several institutional investors and hedge funds have recently made changes to their positions in NXTT. Invesco Ltd. bought a new position in Next Technology during the 2nd quarter worth about $788,000. Geode Capital Management LLC bought a new position in Next Technology during the 2nd quarter worth about $412,000. Vident Advisory LLC bought a new position in Next Technology during the 2nd quarter worth about $124,000. Tower Research Capital LLC TRC bought a new position in Next Technology during the 2nd quarter worth about $92,000. Finally, XTX Topco Ltd bought a new position in Next Technology during the 2nd quarter worth about $76,000. Institutional investors and hedge funds own 2.71% of the company's stock.

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.