Why Did NextNRG Shares Jump 9% In After-Hours Trading?

NextNRG Inc. (NASDAQ:NXXT) shares rose 9.06% in after-hours trading to $1.80 on Tuesday.

Check out the current price of NXXT stock here. 

The Miami-based renewable utilities company issued a statement on Tuesday regarding last weekend's San Francisco power outage.

San Francisco Outage Impact

A Dec. 21 fire at a Pacific Gas & Electric (NYSE:PCG) substation knocked out power to about 130,000 customers. Failed traffic signals left autonomous vehicles stranded at intersections, prompting ride-hailing operators to halt Bay Area services.

Grocery stores, food retailers and restaurants also discarded perishable goods during the pre-Christmas period.

See Also: What Caused Multi Ways Holdings (MWG) To Soar Nearly 49% In After-Hours Trading?

CEO Statement On Infrastructure

Michael D. Farkas, Executive Chairman and CEO of NextNRG, said, "Last weekend's San Francisco outage illustrates exactly why we've spent years developing AI-powered energy solutions that eliminate single-point-of-failure scenarios." He added that modern urban systems require predictive, distributed and intelligent energy management, which the company's technology platform is designed to provide.

Technology Platform Details

According to the company's statement, NextNRG's Next Utility Operating System, an AI-based control layer, reduces power downtime by 10% and interruptions by 17% through predictive analytics. The company's Smart Microgrid solutions integrate solar generation, battery energy storage, and backup power.

Trading Metrics, Technical Analysis

NextNRG has a market capitalization of $221.77 million, a 52-week high of $4.34, and a 52-week low of $0.93.

At roughly 21.1% above its 52-week low, the stock sits near the lower end of its range, suggesting potential for recovery while highlighting ongoing challenges.

NextNRG has a Relative Strength Index (RSI) of 55.26.

Price Action: NXXT closed Tuesday at $1.65, up 12.24%, according to Benzinga Pro data.

Though the stock has seen a 1-month gain of 51.38% in recent times, its 12-month performance shows a decline of 52.59%, highlighting a longer-term bearish trend that traders should be aware of.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.