NextNRG (NASDAQ:NXXT) Trading 17.9% Higher - Still a Buy?

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 traded up 17.9% on Friday . The company traded as high as $1.85 and last traded at $1.84. 218,198 shares changed hands during trading, an increase of 46% from the average session volume of 149,148 shares. The stock had previously closed at $1.56.

Wall Street Analysts Forecast Growth

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

NextNRG Stock Performance

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 50 day moving average price is $2.00. The stock has a market capitalization of $228.53 million, a PE ratio of -0.28 and a beta of -0.64.

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

Institutional Trading of NextNRG

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of NextNRG by 2,274.3% in the 2nd quarter. Geode Capital Management LLC now owns 314,454 shares of the company's stock worth $871,000 after acquiring an additional 301,210 shares during the period. New York State Common Retirement Fund acquired a new stake in NextNRG during the second quarter valued at approximately $103,000. Y Intercept Hong Kong Ltd bought a new stake in NextNRG during the first quarter worth approximately $110,000. Goldman Sachs Group Inc. bought a new stake in NextNRG during the first quarter worth approximately $96,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in NextNRG during the first quarter worth approximately $84,000. 10.56% of the stock is 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.

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