NextNRG (NASDAQ:NXXT) Posts 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) released its quarterly earnings results on Thursday. The company reported ($0.30) earnings per share (EPS) for the quarter, Zacks reports. NextNRG had a negative return on equity of 8,255,915.00% and a negative net margin of 110.66%. The firm had revenue of $19.69 million for the quarter.

NextNRG Stock Performance

NextNRG stock traded up $0.01 during trading hours on Friday, reaching $1.34. 133,676 shares of the stock were exchanged, compared to its average volume of 170,423. NextNRG has a 52-week low of $0.93 and a 52-week high of $4.37. The stock has a market capitalization of $163.62 million, a PE ratio of -0.20 and a beta of -0.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.22 and a current ratio of 0.22. The company's 50 day moving average price is $2.14.

Analyst Ratings Changes

Separately, ThinkEquity upgraded shares of NextNRG to a "strong-buy" rating and set a $6.00 target price on the stock in a research report on Monday, June 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in NextNRG in the 2nd quarter valued at approximately $26,000. Intech Investment Management LLC purchased a new stake in shares of NextNRG in the second quarter valued at approximately $29,000. JPMorgan Chase & Co. acquired a new position in NextNRG during the second quarter worth $33,000. Goldman Sachs Group Inc. acquired a new position in NextNRG during the first quarter worth $96,000. Finally, New York State Common Retirement Fund purchased a new position in NextNRG in the second quarter worth $103,000. 10.56% of the stock is currently owned by institutional investors and hedge funds.

About NextNRG

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.

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