Next Technology (NASDAQ:NXTT) Stock Set to Reverse Split on Monday, August 10th

Next Technology Holding Inc. (NASDAQ:NXTT)’s stock is set to reverse split before the market opens on Monday, August 10th. The 1-100 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 9th.

Next Technology Price Performance

Shares of NASDAQ:NXTT traded down $0.02 during mid-day trading on Thursday, reaching $0.07. 23,138,079 shares of the company were exchanged, compared to its average volume of 1,866,437. Next Technology has a 1 year low of $0.07 and a 1 year high of $401.74. The firm’s 50-day simple moving average is $1.11 and its 200 day simple moving average is $2.12. The firm has a market cap of $10.61 million, a price-to-earnings ratio of -0.00 and a beta of 6.14.

Next Technology (NASDAQ:NXTT) last posted its earnings results on Friday, July 24th. The company reported ($0.20) earnings per share for the quarter. Next Technology had a negative net margin of 2,355.97% and a negative return on equity of 60.08%. The company had revenue of $0.84 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Next Technology from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Next Technology has a consensus rating of “Sell”.

Institutional Investors Weigh In On Next Technology

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new stake in Next Technology in the third quarter valued at approximately $42,000. Empowered Funds LLC acquired a new stake in shares of Next Technology during the 4th quarter worth about $61,000. Bridgeway Capital Management LLC purchased a new stake in Next Technology during the fourth quarter worth approximately $61,000. Qube Research & Technologies Ltd purchased a new stake in Next Technology during the second quarter worth approximately $32,000. Finally, DRW Securities LLC purchased a new stake in Next Technology during the fourth quarter worth approximately $183,000. Hedge funds and other 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.