Next Technology Holding Inc. (NASDAQ:NXTT) Sees Significant Decrease in Short Interest

Next Technology Holding Inc. (NASDAQ:NXTT) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 22,318 shares, a decline of 43.3% from the July 15th total of 39,372 shares. Based on an average trading volume of 221,967 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Next Technology from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Next Technology Price Performance

Shares of NASDAQ:NXTT opened at $5.71 on Wednesday. The firm has a market capitalization of $8.39 million, a P/E ratio of -0.00 and a beta of 6.14. Next Technology has a 1 year low of $5.22 and a 1 year high of $27,200.00. The business’s 50-day moving average is $86.96 and its 200 day moving average is $176.99.

Next Technology (NASDAQ:NXTT) last issued its earnings results on Friday, July 24th. The company reported ($20.00) EPS for the quarter. Next Technology had a negative net margin of 2,355.97% and a negative return on equity of 60.08%. The firm had revenue of $0.84 million during the quarter.

Hedge Funds Weigh In On Next Technology

Several large investors have recently modified their holdings of NXTT. DRW Securities LLC purchased a new position in shares of Next Technology in the fourth quarter valued at approximately $183,000. Tower Research Capital LLC TRC acquired a new stake in Next Technology during the 2nd quarter worth approximately $92,000. Vident Advisory LLC purchased a new position in Next Technology in the 2nd quarter valued at approximately $124,000. Invesco Ltd. acquired a new position in shares of Next Technology in the second quarter worth $788,000. Finally, Geode Capital Management LLC acquired a new position in shares of Next Technology in the second quarter worth $412,000. Institutional investors and hedge funds own 2.71% of the company’s stock.

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.