Next Technology (NASDAQ:NXTT) Shares Gap Up - Here's Why

Key Points

• Next Technology Holding Inc. shares gapped up from $1.74 to $1.85 before market open, with a last traded price of $1.68 and a volume of 303,541 shares.
• Wall Street analysts have upgraded Next Technology to a "hold" rating, highlighting potential growth for the company.
• Geode Capital Management LLC recently acquired a new stake in Next Technology, purchasing 179,088 shares valued at approximately $412,000, indicating institutional interest in the stock.

Shares of Next Technology Holding Inc. (NASDAQ:NXTT - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $1.74, but opened at $1.85. Next Technology shares last traded at $1.68, with a volume of 303,541 shares.

Analyst Ratings Changes

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

Next Technology Trading Down 9.9%

The stock's 50 day simple moving average is $2.04 and its two-hundred day simple moving average is $1.31.

Next Technology (NASDAQ:NXTT - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.27 earnings per share for the quarter.

Hedge Funds Weigh In On Next Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. purchased a new stake in shares of Next Technology during the second quarter valued at approximately $788,000. Geode Capital Management LLC purchased a new stake in shares of Next Technology during the second quarter valued at approximately $412,000. XTX Topco Ltd purchased a new stake in shares of Next Technology during the second quarter valued at approximately $76,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Next Technology during the second quarter valued at approximately $32,000. Institutional investors 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.