NextNRG (NASDAQ:NXXT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NextNRG (NASDAQ:NXXT) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NextNRG in a research note on Wednesday, October 8th. HC Wainwright started coverage on shares of NextNRG in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $5.00 price target for the company. Finally, Zacks Research upgraded shares of NextNRG to a “hold” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.50.

NextNRG Stock Performance

Shares of NextNRG stock opened at $1.61 on Friday. The business has a 50-day simple moving average of $1.74 and a 200-day simple moving average of $1.95. NextNRG has a one year low of $0.93 and a one year high of $4.34. The company has a market cap of $216.40 million, a PE ratio of -0.80 and a beta of -0.53.

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

Insider Buying and Selling

In related news, CEO Michael D. Farkas purchased 1,000,000 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was bought at an average price of $1.67 per share, with a total value of $1,670,000.00. Following the completion of the transaction, the chief executive officer owned 75,254,300 shares of the company’s stock, valued at approximately $125,674,681. This represents a 1.35% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sean Matthew Oppen purchased 25,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were purchased at an average price of $1.66 per share, with a total value of $41,500.00. Following the completion of the acquisition, the director owned 263,976 shares of the company’s stock, valued at approximately $438,200.16. This represents a 10.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,035,000 shares of company stock worth $1,729,700 in the last quarter. Company insiders own 69.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NXXT. Vanguard Group Inc. grew its position in shares of NextNRG by 131.2% in the third quarter. Vanguard Group Inc. now owns 1,049,265 shares of the company’s stock valued at $1,920,000 after purchasing an additional 595,448 shares during the period. Forefront Wealth Partners LLC purchased a new stake in NextNRG in the 3rd quarter valued at about $917,000. Geode Capital Management LLC increased its stake in shares of NextNRG by 2,274.3% during the 2nd 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 purchased a new position in shares of NextNRG during the 3rd quarter worth about $139,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of NextNRG in the second quarter worth approximately $103,000. Hedge funds and other institutional investors own 10.56% of the company’s stock.

About NextNRG

NextNRG, Inc engages in the provision of fuel delivery services. It provides app-based interface customers with the ability to select the time and location of their fueling. It offers diesel, red diesel, and REC-90. The company was founded by Yehuda Levy and Michael D. Farkas on March 28, 2019 and is headquartered in Miami, FL.