NextNRG Stock Scheduled to Reverse Split on Monday, September 14th (NASDAQ:NXXT)

Shares of NextNRG Inc. (NASDAQ:NXXT) are going to reverse split on Monday, September 14th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 13th.

NextNRG Trading Down 20.6%

NASDAQ:NXXT traded down $0.04 during trading hours on Thursday, hitting $0.15. The company had a trading volume of 5,979,022 shares, compared to its average volume of 8,299,809. NextNRG has a 1 year low of $0.15 and a 1 year high of $2.88. The company has a market cap of $25.79 million, a P/E ratio of -0.35 and a beta of 0.04. The company has a 50-day moving average of $0.27 and a 200 day moving average of $0.40.

NextNRG (NASDAQ:NXXT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $27.75 million for the quarter. On average, analysts forecast that NextNRG will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NXXT shares. HC Wainwright decreased their target price on shares of NextNRG to $1.50 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings upgraded shares of NextNRG from a “sell (e-)” rating to a “sell (e)” rating in a report on Tuesday, September 1st. Wall Street Zen upgraded NextNRG to a “sell” rating in a report on Saturday, May 23rd. Finally, Zacks Research upgraded NextNRG from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NXXT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of NextNRG during the second quarter valued at about $26,000. XTX Topco Ltd purchased a new stake in shares of NextNRG in the 4th quarter valued at approximately $27,000. Intech Investment Management LLC acquired a new position in shares of NextNRG in the 2nd quarter worth approximately $29,000. HRT Financial LP acquired a new position in shares of NextNRG in the 4th quarter worth approximately $31,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of NextNRG during the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 10.56% of the company’s stock.

NextNRG Company Profile

NextNRG Corp (NASDAQ: NXXT) is a technology-driven energy company specializing in the design, development and deployment of turnkey microgrid solutions and distributed energy systems. The company’s offerings include advanced energy storage systems, solar generation integration, and digital control platforms that allow commercial, industrial and utility customers to optimize energy reliability and reduce dependence on traditional grid infrastructure.

NextNRG’s services span the full project lifecycle, encompassing initial feasibility studies, engineering and procurement, construction management, and ongoing operations and maintenance.