NextNRG (NASDAQ:NXXT) Stock Price Down 3.5% - What's Next?

Shares of NextNRG Inc. (NASDAQ:NXXT - Get Free Report) dropped 3.5% during mid-day trading on Thursday . The company traded as low as $0.33 and last traded at $0.3425. Approximately 3,274,422 shares were traded during trading, a decline of 60% from the average session volume of 8,090,002 shares. The stock had previously closed at $0.3551.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Zacks Research raised NextNRG from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of NextNRG in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of NextNRG to a "sell" rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $5.00.

NextNRG Stock Performance

The firm has a market capitalization of $54.03 million, a P/E ratio of -0.49 and a beta of 0.04. The stock's 50 day simple moving average is $0.47 and its 200 day simple moving average is $0.59.

NextNRG (NASDAQ:NXXT - Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $21.06 million for the quarter. On average, analysts anticipate that NextNRG Inc. will post -0.26 earnings per share for the current year.

Institutional Investors Weigh In On NextNRG

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in shares of NextNRG in the 1st quarter worth $96,000. Geode Capital Management LLC increased its stake in shares of NextNRG by 2,274.3% during the second quarter. Geode Capital Management LLC now owns 314,454 shares of the company's stock valued at $871,000 after buying an additional 301,210 shares during the period. Intech Investment Management LLC purchased a new position in shares of NextNRG during the second quarter valued at $29,000. JPMorgan Chase & Co. bought a new stake in shares of NextNRG in the second quarter valued at about $33,000. Finally, New York State Common Retirement Fund bought a new stake in shares of NextNRG in the second quarter valued at about $103,000. 10.56% of the stock is owned by institutional investors.

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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