Brandi Elizabeth Thomas Sells 7,415 Shares of Nextpower (NASDAQ:NXT) Stock

Nextpower Inc. (NASDAQ:NXT) Director Brandi Elizabeth Thomas sold 7,415 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total value of $676,618.75. Following the sale, the director owned 7,914 shares in the company, valued at $722,152.50. This trade represents a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nextpower Stock Down 1.9%

Shares of Nextpower stock opened at $86.18 on Friday. The firm has a market cap of $13.08 billion, a PE ratio of 22.33, a P/E/G ratio of 1.76 and a beta of 1.95. Nextpower Inc. has a twelve month low of $64.30 and a twelve month high of $163.13. The business has a 50-day moving average price of $106.49 and a 200 day moving average price of $115.59.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share (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 company had revenue of $935.17 million for the quarter, compared to the consensus estimate of $935.39 million. On average, sell-side analysts expect that Nextpower Inc. will post 3.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NXT shares. Susquehanna dropped their price target on shares of Nextpower from $168.00 to $157.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Freedom Capital upgraded shares of Nextpower from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Barclays increased their price objective on shares of Nextpower from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. UBS Group reiterated a “buy” rating and issued a $160.00 target price on shares of Nextpower in a research report on Monday, August 3rd. Finally, Northland Securities boosted their target price on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and an average target price of $146.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its holdings in Nextpower by 0.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after purchasing an additional 86 shares in the last quarter. Root Financial Partners LLC grew its holdings in shares of Nextpower by 30.0% during the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after buying an additional 103 shares in the last quarter. Signature Equity Partners LLC raised its position in shares of Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of 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 buying an additional 119 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Nextpower by 12.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $114,000 after buying an additional 143 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Company Profile

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.