NextNRG (NASDAQ:NXXT) Posts Earnings Results, Misses Estimates By $0.07 EPS

NextNRG (NASDAQ:NXXT) released its earnings results on Friday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07), Zacks reports.

NextNRG Price Performance

Shares of NASDAQ:NXXT traded up $0.09 during trading on Friday, hitting $2.10. The company had a trading volume of 3,190,481 shares, compared to its average volume of 500,622. The stock has a market cap of $263.70 million, a price-to-earnings ratio of -0.55 and a beta of -0.57. The company has a fifty day simple moving average of $1.97 and a two-hundred day simple moving average of $2.23. NextNRG has a one year low of $0.93 and a one year high of $4.34.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of NextNRG in a research note on Wednesday, October 8th. HC Wainwright started coverage on shares of NextNRG in a research report on Tuesday, September 2nd. They set a “buy” rating and a $5.00 target price for the company. Finally, Zacks Research raised shares of NextNRG to a “hold” rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued 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 an average target price of $5.50.

Insider Buying and Selling

In related news, CEO Michael D. Farkas purchased 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was bought at an average cost of $1.67 per share, for a total transaction of $1,670,000.00. Following the completion of the transaction, the chief executive officer directly owned 75,254,300 shares in the company, valued at $125,674,681. This represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Avishai Vaknin sold 15,509 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $2.01, for a total transaction of $31,173.09. Following the transaction, the chief technology officer owned 49,204 shares in the company, valued at $98,900.04. This trade represents a 23.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders purchased a total of 1,035,000 shares of company stock worth $1,729,700 over the last three months. 81.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of NextNRG during the 3rd quarter worth approximately $139,000. Vanguard Group Inc. lifted its position in shares of NextNRG by 131.2% during the third quarter. Vanguard Group Inc. now owns 1,049,265 shares of the company’s stock worth $1,920,000 after purchasing an additional 595,448 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of NextNRG by 94.0% during the third quarter. JPMorgan Chase & Co. now owns 23,241 shares of the company’s stock valued at $43,000 after purchasing an additional 11,261 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of NextNRG in the second quarter worth about $26,000. Finally, New York State Common Retirement Fund purchased a new position in NextNRG in the 2nd quarter worth about $103,000. Institutional investors own 10.56% of the company’s stock.

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.