Next Technology Holding Inc. (NASDAQ:NXTT) Sees Significant Growth in Short Interest

Key Points

• Next Technology Holding Inc. (NASDAQ:NXTT) experienced a significant increase in short interest, rising by 52.1% to 1,780,000 shares as of August 31st.
• The company's stock is set for a 1-200 reverse split on September 16th, impacting the number of shares owned by current shareholders.
• Next Technology's stock saw a 4.8% decline in value, trading at $0.14, with a notable trading volume of over 65 million shares.

Next Technology Holding Inc. (NASDAQ:NXTT - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 1,780,000 shares, a growth of 52.1% from the August 15th total of 1,170,000 shares. Currently, 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 23,650,000 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 23,650,000 shares, the short-interest ratio is presently 0.1 days. Currently, 0.5% of the company's stock are sold short.

Next Technology Trading Up 2.1%

Shares of NXTT stock traded up $0.48 during mid-day trading on Friday, hitting $22.97. 248,177 shares of the stock were exchanged, compared to its average volume of 661,666. The firm has a fifty day moving average of $259.26 and a 200 day moving average of $239.81. Next Technology has a 52-week low of $20.14 and a 52-week high of $960.00.

Next Technology (NASDAQ:NXTT - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported $54.00 earnings per share for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Invesco Ltd. acquired a new position in shares of Next Technology during the 2nd quarter worth about $788,000. Geode Capital Management LLC acquired a new stake in shares of Next Technology during the 2nd quarter worth approximately $412,000. Vident Advisory LLC acquired a new stake in shares of Next Technology during the 2nd quarter worth approximately $124,000. Tower Research Capital LLC TRC acquired a new stake in shares of Next Technology during the 2nd quarter worth approximately $92,000. Finally, XTX Topco Ltd acquired a new stake in shares of Next Technology during the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds own 2.71% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Next Technology to a "hold" rating in a research report on Saturday, June 21st.

Next Technology Company Profile

Next Technology Holding Inc provides technical services and solutions through its social e-commerce platform primarily in Mainland China. It offers YCloud, a micro-business cloud intelligent internationalization system that conducts multi-channel data analysis through the learning of big data and social recommendation relationships, as well as provides users with AI fission and management systems, and supply chain systems.