NextNRG Inc. (NASDAQ:NXXT) Shares Shorted: Short Interest Down 93.8% in October

NextNRG Inc. (NASDAQ:NXXT) was the target of a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 45,771 shares, a drop of 93.8% from the October 15th total of 734,847 shares. Based on an average trading volume of 23,591 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.9% of the company’s shares are short sold.

Institutional Trading of NextNRG

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP boosted its stake in NextNRG by 872.9% during the second quarter. Susquehanna International Group LLP now owns 140,706 shares of the company’s stock worth $49,000 after buying an additional 126,244 shares during the period. BlackRock Inc. purchased a new stake in shares of NextNRG in the 2nd quarter valued at approximately $33,000. Finally, Themes Management Co LLC purchased a new stake in shares of NextNRG in the 1st quarter valued at approximately $100,000. 10.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings upgraded NextNRG from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, September 14th. Wall Street Zen raised shares of NextNRG to a “hold” rating in a report on Saturday, September 19th. Finally, HC Wainwright cut their price objective on shares of NextNRG to $150.00 and set a “buy” rating for the company in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NextNRG currently has an average rating of “Hold” and an average price target of $150.00.

NextNRG Trading Down 92.7%

NextNRG stock traded down $2.42 during mid-day trading on Tuesday, hitting $0.19. The company’s stock had a trading volume of 12,478,859 shares, compared to its average volume of 130,733. The stock’s fifty day moving average is $8.92 and its two-hundred day moving average is $38.35. The firm has a market capitalization of $319,580.00, a PE ratio of -0.00 and a beta of 0.33. NextNRG has a 1 year low of $0.17 and a 1 year high of $222.00.

About NextNRG

NextNRG, Inc. (NASDAQ:NXXT) is an energy technology company focused on developing and deploying next-generation energy and mobility solutions. The company works to support the transition toward electrified transportation and more flexible, distributed energy systems. Its business activities include electric vehicle charging infrastructure, fleet electrification, battery energy storage, renewable energy integration and related energy-management technologies. These solutions are designed to help commercial customers, property owners and other organizations manage electricity demand, improve energy efficiency and support the adoption of electric vehicles.