NextNRG's (NXXT) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• NextNRG's stock is rated "sell (e+)" by Weiss Ratings, while other analysts have assigned various ratings, including "strong-buy" and "buy," reflecting mixed opinions on its future performance.
• The stock opened at $2.75, with a market capitalization of $345.32 million and a current consensus price target of $5.50 according to MarketBeat.
• Insider trading activity shows that CEO Michael D. Farkas purchased 1,000,000 shares at an average cost of $1.67, increasing his ownership stake in the company.

NextNRG (NASDAQ:NXXT - Get Free Report)'s stock had its "sell (e+)" rating reiterated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also issued research reports about the company. HC Wainwright began coverage on NextNRG in a research note on Tuesday, September 2nd. They set a "buy" rating and a $5.00 price target for the company. ThinkEquity upgraded NextNRG to a "strong-buy" rating and set a $6.00 price target on the stock in a report on Monday, June 23rd. Finally, Zacks Research upgraded NextNRG to a "hold" rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.50.

NextNRG Stock Performance

NASDAQ:NXXT opened at $2.75 on Wednesday. The firm has a market capitalization of $345.32 million, a price-to-earnings ratio of -0.41 and a beta of -0.58. NextNRG has a 52-week low of $0.93 and a 52-week high of $4.34. The stock has a fifty day moving average of $1.72 and a 200 day moving average of $2.43.

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

Insiders Place Their Bets

In related news, CEO Michael D. Farkas bought 1,000,000 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $1,670,000.00. Following the purchase, the chief executive officer owned 75,254,300 shares in the company, valued at approximately $125,674,681. This represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sean Matthew Oppen bought 25,000 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were bought at an average price of $1.66 per share, with a total value of $41,500.00. Following the completion of the purchase, the director owned 263,976 shares in the company, valued at approximately $438,200.16. The trade was a 10.46% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,035,000 shares of company stock valued at $1,729,700. Company insiders own 81.67% of the company's stock.

Institutional Investors Weigh In On NextNRG

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new stake in NextNRG in the 1st quarter worth $110,000. OMERS ADMINISTRATION Corp bought a new position in shares of NextNRG in the 1st quarter valued at about $84,000. Goldman Sachs Group Inc. bought a new position in shares of NextNRG in the 1st quarter valued at about $96,000. Veracity Capital LLC bought a new position in shares of NextNRG in the 2nd quarter valued at about $34,000. Finally, Geode Capital Management LLC raised its position in 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 purchasing an additional 301,210 shares during the period. 10.56% of the stock is currently owned by hedge funds and other 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.

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