NextNRG (NASDAQ:NXXT) Trading 17.9% Higher - What's Next?

Key Points

• NextNRG's stock price surged by 17.9%, trading as high as $1.85, with a volume increase of 46% during the session.
• Wall Street analysts are optimistic, with ThinkEquity upgrading the stock to a "strong-buy" rating and a target price of $6.00.
• The company's recent financial results showed a negative earnings per share of ($0.30) and significant institutional interest, with several firms markedly increasing their stakes.

NextNRG Inc. (NASDAQ:NXXT - Get Free Report)'s stock price shot up 17.9% on Friday . The stock traded as high as $1.85 and last traded at $1.84. 218,198 shares were traded during trading, an increase of 46% from the average session volume of 149,148 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

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

NextNRG Trading Down 1.7%

The firm has a fifty day moving average of $1.92. The company has a current ratio of 0.22, a quick ratio of 0.21 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $214.87 million, a P/E ratio of -0.26 and a beta of -0.64.

NextNRG (NASDAQ:NXXT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.30) earnings per share for the quarter. The business had revenue of $19.69 million during the quarter.

Institutional Trading of NextNRG

A number of large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in NextNRG in the second quarter valued at $26,000. New York State Common Retirement Fund acquired a new stake in shares of NextNRG during the second quarter worth approximately $103,000. JPMorgan Chase & Co. acquired a new stake in shares of NextNRG during the second quarter worth approximately $33,000. Intech Investment Management LLC acquired a new stake in shares of NextNRG during the second quarter worth approximately $29,000. Finally, Geode Capital Management LLC increased its holdings 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 worth $871,000 after buying an additional 301,210 shares in the last quarter. 10.56% of the stock is currently owned by institutional investors.

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.