NextPlay Technologies Inc. [NXTP] Stock trading around $0.11 per share: What’s Next?

NextPlay Technologies Inc. [NASDAQ: NXTP] plunged by -$0.02 during the normal trading session on Thursday and reaching a high of $3.00 during the day while it closed the day at $0.11. The company report on January 5, 2023 that NextPlay Announces Reverse Stock Split Effective January 6, 2023, in Order to Meet Nasdaq Minimum Price Continued Listing Requirement.

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The reverse stock split is primarily intended to bring the company into compliance with the minimum bid price requirements for maintaining NextPlay’s listing on the Nasdaq Capital Market. The new CUSIP number following the reverse split will be 65344G 210.

NextPlay Technologies Inc. stock has also loss -9.24% of its value over the past 7 days. However, NXTP stock has declined by -60.20% in the 3 months of the year. Over the past six months meanwhile, it has lost -69.30% and lost -3.93% year-on date.

The market cap for NXTP stock reached $12.93 million, with 113.55 million shares outstanding and 89.09 million shares in the current float. Compared to the average trading volume of 2.60M shares, NXTP reached a trading volume of 4532718 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about NextPlay Technologies Inc. [NXTP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NXTP shares is $3.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NXTP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for NextPlay Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 20, 2021.

The Average True Range (ATR) for NextPlay Technologies Inc. is set at 0.02, with the Price to Sales ratio for NXTP stock in the period of the last 12 months amounting to 1.99. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 0.04.

NXTP stock trade performance evaluation

NextPlay Technologies Inc. [NXTP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.24. With this latest performance, NXTP shares dropped by -32.43% in over the last four-week period, additionally sinking by -69.30% over the last 6 months – not to mention a drop of -87.64% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NXTP stock in for the last two-week period is set at 37.69, with the RSI for the last a single of trading hit 38.13, and the three-weeks RSI is set at 38.49 for NextPlay Technologies Inc. [NXTP]. The present Moving Average for the last 50 days of trading for this stock 0.1677, while it was recorded at 0.1170 for the last single week of trading, and 0.2788 for the last 200 days.

NextPlay Technologies Inc. [NXTP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and NextPlay Technologies Inc. [NXTP] shares currently have an operating margin of -290.38 and a Gross Margin at -74.01. NextPlay Technologies Inc.’s Net Margin is presently recorded at -462.89.

Return on Equity for this stock declined to -91.09, with Return on Assets sitting at -60.39.

NextPlay Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

NextPlay Technologies Inc. [NXTP]: Insider Ownership positions

There are presently around $1 million, or 5.00% of NXTP stock, in the hands of institutional investors. The top three institutional holders of NXTP stocks are: VANGUARD GROUP INC with ownership of 3,221,856, which is approximately -5.531% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 753,566 shares of the stock with an approximate value of $83000.0 in NXTP stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $73000.0 in NXTP stock with ownership of nearly 0% of the company’s market capitalization.

Positions in NextPlay Technologies Inc. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 6 institutional holders increased their position in NextPlay Technologies Inc. [NASDAQ:NXTP] by around 100,827 shares. Additionally, 11 investors decreased positions by around 469,986 shares, while 15 investors held positions by with 5,348,019 shares. The mentioned changes placed institutional holdings at 5,918,832 shares, according to the latest SEC report filing. NXTP stock had 2 new institutional investments in for a total of 21,682 shares, while 7 institutional investors sold positions of 208,151 shares during the same period.

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