NextNRG (NASDAQ:NXXT) Upgraded at Zacks Research

Key Points

• NextNRG (NASDAQ:NXXT) has been upgraded to a "hold" rating by Zacks Research, while other analysts have given it a range of ratings from "strong buy" to "buy."
• The stock currently has an average price target of $5.50, with its price having opened at $1.59 on Wednesday.
• Institutional investors own approximately 10.56% of NextNRG's stock, with notable increases in holdings from firms like Geode Capital Management, which raised its stake by over 2,274% in the second quarter.

Zacks Research upgraded shares of NextNRG (NASDAQ:NXXT - Free Report) to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research firms have also issued reports on NXXT. HC Wainwright initiated coverage on shares of NextNRG in a report on Tuesday, September 2nd. They issued a "buy" rating and a $5.00 target price for the company. ThinkEquity upgraded 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, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, NextNRG has an average rating of "Buy" and a consensus price target of $5.50.

NextNRG Trading Up 8.4%

Shares of NXXT traded up $0.15 during trading hours on Wednesday, reaching $1.93. 400,617 shares of the company traded hands, compared to its average volume of 102,016. NextNRG has a 12 month low of $0.93 and a 12 month high of $4.37. The company has a quick ratio of 0.21, a current ratio of 0.22 and a debt-to-equity ratio of 0.07. The company's fifty day moving average price is $1.74 and its two-hundred day moving average price is $2.54. The company has a market capitalization of $239.71 million, a price-to-earnings ratio of -0.29 and a beta of -0.60.

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

Institutional Investors Weigh In On NextNRG

Several institutional investors and hedge funds have recently made changes to their positions in NXXT. Geode Capital Management LLC grew its stake in shares of NextNRG by 2,274.3% in the second quarter. Geode Capital Management LLC now owns 314,454 shares of the company's stock worth $871,000 after purchasing an additional 301,210 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in NextNRG in the 2nd quarter worth about $103,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of NextNRG during the 1st quarter worth about $110,000. Goldman Sachs Group Inc. purchased a new stake in shares of NextNRG during the 1st quarter worth about $96,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in NextNRG in the 1st quarter worth approximately $84,000. 10.56% of the stock is 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.