NextNRG (NASDAQ:NXXT) CEO Buys $1,670,000.00 in Stock

NextNRG Inc. (NASDAQ:NXXT) CEO Michael Farkas purchased 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was purchased at an average cost of $1.67 per share, with a total value of $1,670,000.00. Following the acquisition, the chief executive officer directly owned 75,254,300 shares in the company, valued at $125,674,681. This trade represents a 1.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

NextNRG Price Performance

Shares of NXXT stock opened at $1.67 on Friday. NextNRG Inc. has a 12-month low of $0.93 and a 12-month high of $4.34. The firm has a market capitalization of $209.70 million, a price-to-earnings ratio of -0.25 and a beta of -0.60. The company has a quick ratio of 0.21, a current ratio of 0.22 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average of $1.63 and a 200-day moving average of $2.49.

NextNRG (NASDAQ:NXXT) last announced its earnings results on Thursday, August 14th. The company reported ($0.30) earnings per share for the quarter. The company had revenue of $19.69 million for the quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NXXT shares. ThinkEquity raised shares of NextNRG to a “strong-buy” rating and set a $6.00 price target on the stock in a research report on Monday, June 23rd. HC Wainwright started 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. Finally, Zacks Research raised shares of NextNRG to a “hold” rating in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $5.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NXXT. Veracity Capital LLC acquired a new stake in shares of NextNRG during the 2nd quarter worth approximately $34,000. Y Intercept Hong Kong Ltd acquired a new stake in NextNRG in the first quarter valued at approximately $110,000. OMERS ADMINISTRATION Corp acquired a new stake in NextNRG in the first quarter valued at approximately $84,000. Geode Capital Management LLC boosted its position 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 buying an additional 301,210 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in NextNRG in the second quarter valued at approximately $103,000. Institutional investors and hedge funds own 10.56% of the company’s stock.

NextNRG Company Profile

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.