NextNRG (NASDAQ:NXXT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

NextNRG (NASDAQ:NXXT) announced its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02, FiscalAI reports. The firm had revenue of $27.75 million for the quarter.

NextNRG Trading Down 17.0%

NXXT traded down $0.05 during mid-day trading on Friday, hitting $0.27. 7,188,785 shares of the stock were exchanged, compared to its average volume of 8,422,783. The firm’s fifty day moving average is $0.35 and its two-hundred day moving average is $0.49. NextNRG has a 1-year low of $0.20 and a 1-year high of $2.88. The company has a market cap of $44.93 million, a PE ratio of -0.61 and a beta of 0.06.

Institutional Trading of NextNRG

A number of institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of NextNRG in the second quarter valued at approximately $26,000. Intech Investment Management LLC purchased a new stake in NextNRG during the 2nd quarter worth approximately $29,000. JPMorgan Chase & Co. purchased a new stake in NextNRG during the 2nd quarter worth approximately $33,000. XTX Topco Ltd acquired a new stake in NextNRG during the 4th quarter worth approximately $27,000. Finally, HRT Financial LP acquired a new stake in NextNRG during the 4th quarter worth approximately $31,000. 10.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NXXT has been the topic of a number of analyst reports. Wall Street Zen raised shares of NextNRG to a “sell” rating in a research note on Saturday, May 23rd. HC Wainwright dropped their price target on shares of NextNRG to $1.50 and set a “buy” rating for the company in a research note on Friday. Zacks Research upgraded shares of NextNRG from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NextNRG in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NextNRG presently has an average rating of “Hold” and an average target price of $1.50.

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.