Next Technology Holding Inc. (NASDAQ:NXTT) Sees Large Drop in Short Interest

Next Technology Holding Inc. (NASDAQ:NXTT) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 21,698 shares, a decrease of 35.4% from the December 31st total of 33,612 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 280,499 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 280,499 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.6% of the shares of the stock are short sold.

Institutional Trading of Next Technology

Several institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd purchased a new position in shares of Next Technology in the 2nd quarter worth $32,000. BNP Paribas Financial Markets purchased a new position in shares of Next Technology in the 3rd quarter worth about $42,000. XTX Topco Ltd acquired a new position in shares of Next Technology in the 2nd quarter valued at about $76,000. Tower Research Capital LLC TRC purchased a new stake in shares of Next Technology during the 2nd quarter worth about $92,000. Finally, Vident Advisory LLC acquired a new stake in Next Technology during the 2nd quarter worth approximately $124,000. 2.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NXTT. Wall Street Zen downgraded Next Technology from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “sell (d)” rating on shares of Next Technology in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Next Technology Stock Down 12.0%

Shares of NXTT stock traded down $0.59 during trading hours on Monday, hitting $4.33. 65,847 shares of the company were exchanged, compared to its average volume of 182,308. Next Technology has a 1 year low of $4.22 and a 1 year high of $960.00. The firm has a fifty day moving average of $6.90 and a 200 day moving average of $85.83. The firm has a market cap of $12.43 million, a PE ratio of 0.10 and a beta of 7.18.

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.