NextNRG Inc. (NASDAQ:NXXT) Short Interest Update

Key Points

• Short interest jumped 19.1% in April to 6,302,171 shares—about 13.0% of shares sold short—with a days-to-cover ratio of 1.5 based on average volume.
• Shares trade around $0.36 with a market cap of $56.9M; NextNRG reported an EPS of -$0.21 for the quarter and analysts expect about -$0.32 for the year.
• Several firms have downgraded the stock, yet MarketBeat shows a consensus rating of Hold and a $5.50 price target, a large gap versus the current share price.

NextNRG Inc. (NASDAQ:NXXT - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 6,302,171 shares, an increase of 19.1% from the March 31st total of 5,292,235 shares. Approximately 13.0% of the shares of the stock are sold short. Based on an average trading volume of 4,192,834 shares, the days-to-cover ratio is presently 1.5 days.

NextNRG Price Performance

NASDAQ NXXT opened at $0.36 on Thursday. The business has a fifty day moving average price of $0.47 and a two-hundred day moving average price of $1.08. NextNRG has a fifty-two week low of $0.32 and a fifty-two week high of $3.59. The stock has a market capitalization of $56.87 million, a PE ratio of -0.16 and a beta of -0.32.

NextNRG (NASDAQ:NXXT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The company reported ($0.21) EPS for the quarter. The firm had revenue of $23.01 million during the quarter. As a group, sell-side analysts expect that NextNRG will post -0.32 earnings per share for the current year.

Analysts Set New Price Targets

NXXT has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of NextNRG in a research report on Tuesday, April 21st. Zacks Research downgraded NextNRG from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen downgraded NextNRG from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, NextNRG currently has a consensus rating of "Hold" and a consensus price target of $5.50.

Hedge Funds Weigh In On NextNRG

A number of institutional investors have recently modified their holdings of NXXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of NextNRG during the 2nd quarter worth $26,000. XTX Topco Ltd acquired a new position in shares of NextNRG during the 4th quarter worth $27,000. Sovran Advisors LLC acquired a new position in shares of NextNRG during the 4th quarter worth $29,000. Intech Investment Management LLC acquired a new position in shares of NextNRG during the 2nd quarter worth $29,000. Finally, HRT Financial LP acquired a new position in shares of NextNRG during the 4th quarter worth $31,000. Institutional investors and hedge funds own 10.56% of the company's stock.

NextNRG Company Profile

NextNRG Corp NASDAQ: NXXT is a technology-driven energy company specializing in the design, development and deployment of turnkey microgrid solutions and distributed energy systems. The company's offerings include advanced energy storage systems, solar generation integration, and digital control platforms that allow commercial, industrial and utility customers to optimize energy reliability and reduce dependence on traditional grid infrastructure.

NextNRG's services span the full project lifecycle, encompassing initial feasibility studies, engineering and procurement, construction management, and ongoing operations and maintenance.

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