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Next Technology (NASDAQ:NXTT) Stock Price Down 5.3% - Here's Why

Next Technology logo with Computer and Technology background

Key Points

  • Next Technology Holding Inc. (NASDAQ:NXTT) saw its stock price decline by 5.3%, trading as low as $1.04 before rebounding slightly to $1.15, amid significantly reduced trading volume.
  • Despite the drop in stock price, Wall Street analysts upgraded NXTT to a "hold" rating, indicating potential future growth.
  • Several hedge funds have made recent investments in NXTT, with a total of approximately $732,000 allocated during the second quarter, reflecting increased institutional interest in the company.
  • MarketBeat previews the top five stocks to own by November 1st.

Next Technology Holding Inc. (NASDAQ:NXTT - Get Free Report)'s stock price was down 5.3% during mid-day trading on Monday . The stock traded as low as $1.04 and last traded at $1.15. Approximately 527,024 shares traded hands during trading, a decline of 82% from the average daily volume of 2,909,716 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

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

Read Our Latest Research Report on Next Technology

Next Technology Stock Performance

The business has a 50-day moving average of $1.91 and a 200 day moving average of $1.29.

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

Hedge Funds Weigh In On Next Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Qube Research & Technologies Ltd acquired a new position in shares of Next Technology in the 2nd quarter valued at approximately $32,000. XTX Topco Ltd acquired a new position in shares of Next Technology in the 2nd quarter valued at approximately $76,000. Tower Research Capital LLC TRC acquired a new position in shares of Next Technology in the 2nd quarter valued at approximately $92,000. Vident Advisory LLC acquired a new position in shares of Next Technology in the 2nd quarter valued at approximately $124,000. Finally, Geode Capital Management LLC acquired a new position in shares of Next Technology in the 2nd quarter valued at approximately $412,000. 2.71% of the stock is owned by institutional investors and hedge funds.

About Next Technology

(Get Free Report)

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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