Nextpower (NASDAQ:NXT) Director Sells 3,692 Shares

Nextpower Inc. (NASDAQ:NXT) Director Julia Blunden sold 3,692 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $84.10, for a total value of $310,497.20. Following the completion of the sale, the director owned 2,742 shares of the company’s stock, valued at approximately $230,602.20. This trade represents a 57.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Julia Blunden also recently made the following trade(s):

• On Friday, August 21st, Julia Blunden sold 3,723 shares of Nextpower stock. The shares were sold at an average price of $88.08, for a total transaction of $327,921.84.
• On Wednesday, August 5th, Julia Blunden sold 2,289 shares of Nextpower stock. The shares were sold at an average price of $97.22, for a total transaction of $222,536.58.

Nextpower Trading Down 1.7%

Nextpower stock traded down $1.46 on Monday, reaching $84.72. 1,940,050 shares of the stock were exchanged, compared to its average volume of 2,459,307. Nextpower Inc. has a twelve month low of $64.30 and a twelve month high of $163.13. The firm has a fifty day moving average price of $106.49 and a two-hundred day moving average price of $115.59. The stock has a market cap of $12.85 billion, a PE ratio of 21.95, a PEG ratio of 1.73 and a beta of 1.95.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. Nextpower had a return on equity of 26.29% and a net margin of 16.36%.The business had revenue of $935.17 million for the quarter, compared to analyst estimates of $935.39 million. Equities analysts anticipate that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXT. Jupiter Asset Management Ltd. increased its position in shares of Nextpower by 0.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after purchasing an additional 86 shares during the period. Root Financial Partners LLC lifted its holdings in shares of Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after acquiring an additional 103 shares during the period. Signature Equity Partners LLC boosted its position in shares of Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Nextpower by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after acquiring an additional 119 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Nextpower by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $114,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on NXT shares. Wells Fargo & Company upped their target price on shares of Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Nextpower in a research report on Friday, May 29th. Robert W. Baird lifted their target price on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $131.00 price target on shares of Nextpower in a report on Friday, July 31st. Finally, Northland Securities lifted their price objective on Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.12.

About Nextpower

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.