Next Technology Holding Inc. (NASDAQ:NXTT) Short Interest Up 314.4% in July

Next Technology Holding Inc. (NASDAQ:NXTT) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 39,372 shares, an increase of 314.4% from the June 30th total of 9,502 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 152,045 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Next Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXTT. Empowered Funds LLC purchased a new stake in Next Technology during the 4th quarter valued at $61,000. Bridgeway Capital Management LLC purchased a new stake in shares of Next Technology during the fourth quarter worth about $61,000. DRW Securities LLC bought a new stake in shares of Next Technology in the fourth quarter worth about $183,000. BNP Paribas Financial Markets purchased a new position in Next Technology during the 3rd quarter valued at about $42,000. Finally, Tower Research Capital LLC TRC purchased a new position in Next Technology during the 2nd quarter valued at about $92,000. 2.71% of the stock is currently owned by institutional investors.

Next Technology Price Performance

NXTT opened at $0.61 on Tuesday. The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $2.50. Next Technology has a 1 year low of $0.45 and a 1 year high of $444.00. The firm has a market cap of $46.55 million, a price-to-earnings ratio of -0.00 and a beta of 6.06.

Next Technology (NASDAQ:NXTT) last announced its quarterly earnings results on Friday, July 24th. The company reported ($0.20) EPS for the quarter. Next Technology had a negative return on equity of 59.24% and a negative net margin of 2,355.97%.The company had revenue of $0.84 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Next Technology in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.