Next Technology (NASDAQ:NXTT) Stock Price Down 10.5% – Should You Sell?

Next Technology Holding Inc. (NASDAQ:NXTT) fell 10.5% during trading on Friday . The company traded as low as $6.67 and last traded at $7.39. 189,289 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 140,775 shares. The stock had previously closed at $8.26.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NXTT shares. Weiss Ratings reissued a “sell (d)” rating on shares of Next Technology in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Next Technology from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Next Technology Trading Down 10.5%

The stock has a market capitalization of $21.21 million, a P/E ratio of 0.16 and a beta of 7.17. The business has a 50-day moving average price of $9.34 and a two-hundred day moving average price of $139.77.

Next Technology (NASDAQ:NXTT) last posted its quarterly earnings data on Wednesday, October 8th. The company reported ($6.86) earnings per share for the quarter. The company had revenue of $1.79 million for the quarter.

Institutional Trading of Next Technology

Several large investors have recently made changes to their positions in NXTT. BNP Paribas Financial Markets acquired a new position in Next Technology during the third quarter valued at approximately $42,000. Tower Research Capital LLC TRC acquired a new stake in shares of Next Technology in the 2nd quarter valued at $92,000. Vident Advisory LLC bought a new position in shares of Next Technology in the 2nd quarter valued at $124,000. Qube Research & Technologies Ltd acquired a new position in shares of Next Technology during the 2nd quarter worth $32,000. Finally, Invesco Ltd. acquired a new position in shares of Next Technology during the 2nd quarter worth $788,000. Institutional investors and hedge funds own 2.71% of the company’s stock.

About Next Technology

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. The company’s YCloud system also provides micro-business owners with various payment methods, such as Alipay, WeChat, and UnionPay.