Next Technology (NASDAQ:NXTT) Stock Price Down 7.7% – Here’s Why

Next Technology Holding Inc. (NASDAQ:NXTT) was down 7.7% during mid-day trading on Monday . The company traded as low as $1.42 and last traded at $1.43. Approximately 85,167 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 105,199 shares. The stock had previously closed at $1.55.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Next Technology in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Next Technology Price Performance

The stock’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $5.33. The stock has a market capitalization of $106.76 million, a P/E ratio of -0.02 and a beta of 6.14.

Next Technology (NASDAQ:NXTT) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($11.86) EPS for the quarter. The business had revenue of $0.47 million for the quarter.

Institutional Investors Weigh In On Next Technology

A number of institutional investors have recently modified their holdings of NXTT. Qube Research & Technologies Ltd bought a new stake in Next Technology during the second quarter worth about $32,000. BNP Paribas Financial Markets bought a new stake in Next Technology during the third quarter worth about $42,000. Empowered Funds LLC bought a new stake in Next Technology during the fourth quarter worth about $61,000. Bridgeway Capital Management LLC bought a new stake in Next Technology during the fourth quarter worth about $61,000. Finally, XTX Topco Ltd acquired a new position in Next Technology during the second quarter worth about $76,000. Institutional investors 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.