NextNRG (NASDAQ:NXXT) Stock Rating Upgraded by Wall Street Zen

NextNRG (NASDAQ:NXXT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

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

NextNRG Price Performance

Shares of NextNRG stock opened at $1.73 on Friday. NextNRG has a 52-week low of $0.93 and a 52-week high of $4.34. The firm has a market capitalization of $232.53 million, a PE ratio of -0.86 and a beta of -0.53. The company’s fifty day moving average price is $1.75 and its two-hundred day moving average price is $1.96.

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

Insider Activity

In other NextNRG news, CTO Avishai Vaknin sold 15,509 shares of NextNRG stock in a transaction on Friday, October 24th. The stock was sold at an average price of $2.01, for a total value of $31,173.09. Following the completion of the transaction, the chief technology officer owned 49,204 shares in the company, valued at approximately $98,900.04. The trade was a 23.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael D. Farkas acquired 1,000,000 shares of NextNRG stock in a transaction on Thursday, September 18th. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $1,670,000.00. Following the purchase, 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 SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 1,035,000 shares of company stock worth $1,729,700. Insiders own 69.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp acquired a new position in NextNRG during the 1st quarter worth about $84,000. Goldman Sachs Group Inc. bought a new position in shares of NextNRG in the first quarter worth about $96,000. Veracity Capital LLC bought a new position in shares of NextNRG in the second quarter worth about $34,000. Geode Capital Management LLC lifted its position in shares of NextNRG by 2,274.3% during the second quarter. Geode Capital Management LLC now owns 314,454 shares of the company’s stock worth $871,000 after purchasing an additional 301,210 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of NextNRG during the second quarter valued at approximately $29,000. 10.56% of the stock is owned by institutional investors.

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.