NextNRG (NASDAQ:NXXT) Releases Earnings Results

Key Points

• NextNRG reported a quarterly loss of ($0.30) earnings per share (EPS) and a net margin of -110.66% for the quarter, alongside a revenue of $19.69 million.
• The company's stock reached $1.34 with a market capitalization of $163.62 million and a PE ratio of -0.20.
• ThinkEquity upgraded NextNRG to a "strong-buy" rating with a target price of $6.00, indicating market optimism for the company's future performance.

NextNRG (NASDAQ:NXXT - Get Free Report) posted its earnings results on Thursday, August 14th. The company reported ($0.30) earnings per share for the quarter, Zacks reports. NextNRG had a negative net margin of 106.12% and a negative return on equity of 8,255,915.00%. The firm had revenue of $19.69 million during the quarter.

NextNRG Price Performance

NextNRG stock traded down $0.03 during mid-day trading on Thursday, reaching $1.56. 59,520 shares of the company's stock were exchanged, compared to its average volume of 154,807. NextNRG has a twelve month low of $0.9310 and a twelve month high of $4.37. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.07. The stock's fifty day simple moving average is $2.02.

Analyst Ratings Changes

Separately, ThinkEquity raised shares of NextNRG to a "strong-buy" rating and set a $6.00 price objective for the company in a research report on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, NextNRG currently has an average rating of "Strong Buy" and a consensus target price of $6.00.

Institutional Investors Weigh In On NextNRG

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in NextNRG by 2,274.3% during the 2nd quarter. Geode Capital Management LLC now owns 314,454 shares of the company's stock worth $871,000 after buying an additional 301,210 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in NextNRG during the 2nd quarter worth approximately $103,000. Goldman Sachs Group Inc. purchased a new stake in shares of NextNRG in the 1st quarter valued at approximately $96,000. JPMorgan Chase & Co. purchased a new stake in shares of NextNRG in the 2nd quarter valued at approximately $33,000. Finally, Intech Investment Management LLC purchased a new stake in shares of NextNRG in the 2nd quarter valued at approximately $29,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

NextNRG Company Profile

NextNRG, Inc engages in the provision of fuel delivery services. It provides app-based interface customers with the ability to select the time and location of their fueling. It offers diesel, red diesel, and REC-90. The company was founded by Yehuda Levy and Michael D. Farkas on March 28, 2019 and is headquartered in Miami, FL.