NextNRG Inc. (NASDAQ:NXXT) Sees Large Increase in Short Interest

NextNRG Inc. (NASDAQ:NXXT) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 4,425,776 shares, a growth of 52.4% from the November 30th total of 2,903,665 shares. Based on an average daily volume of 2,540,083 shares, the short-interest ratio is currently 1.7 days. Currently, 10.7% of the shares of the stock are sold short. Currently, 10.7% of the shares of the stock are sold short. Based on an average daily volume of 2,540,083 shares, the short-interest ratio is currently 1.7 days.

Insider Activity

In other NextNRG news, Director Daniel Ronald Arbour sold 42,109 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $1.31, for a total value of $55,162.79. Following the transaction, the director directly owned 169,709 shares in the company, valued at $222,318.79. The trade was a 19.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Avishai Vaknin sold 15,509 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $2.01, for a total transaction of $31,173.09. Following the sale, the chief technology officer directly owned 49,204 shares in the company, valued at $98,900.04. This represents a 23.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 162,565 shares of company stock valued at $238,937 over the last three months. 69.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NXXT. Vanguard Group Inc. grew its position in shares of NextNRG by 131.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,049,265 shares of the company’s stock worth $1,920,000 after buying an additional 595,448 shares during the period. Forefront Wealth Partners LLC acquired a new position in NextNRG in the third quarter valued at approximately $917,000. Geode Capital Management LLC boosted its stake in NextNRG by 2,274.3% in the second quarter. Geode Capital Management LLC now owns 314,454 shares of the company’s stock valued at $871,000 after acquiring an additional 301,210 shares during the last quarter. Virtu Financial LLC bought a new position in NextNRG in the third quarter valued at approximately $139,000. Finally, New York State Common Retirement Fund acquired a new stake in NextNRG during the 2nd quarter worth $103,000. Institutional investors own 10.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NXXT. Zacks Research raised NextNRG to a “hold” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of NextNRG in a report on Wednesday, October 8th. Wall Street Zen raised NextNRG from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Finally, HC Wainwright began coverage on shares of NextNRG in a research report on Tuesday, September 2nd. They set a “buy” rating and a $5.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.50.

NextNRG Stock Performance

NASDAQ NXXT opened at $1.42 on Wednesday. The stock has a fifty day moving average of $1.56 and a 200-day moving average of $1.83. The stock has a market capitalization of $190.86 million, a P/E ratio of -0.70 and a beta of -0.53. NextNRG has a 52 week low of $0.93 and a 52 week high of $4.34.

NextNRG (NASDAQ:NXXT) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The firm had revenue of $22.86 million during the quarter, compared to analyst estimates of $20.93 million.

About NextNRG

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.