Nextpower Inc. (NASDAQ:NXT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nextpower Inc. (NASDAQ:NXT) has received a consensus recommendation of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $146.12.

Several equities analysts have recently commented on NXT shares. Susquehanna reduced their target price on Nextpower from $168.00 to $157.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Roth Capital restated a “buy” rating and issued a $175.00 price target on shares of Nextpower in a research note on Tuesday, July 28th. 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. Glj Research reiterated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a research note on Wednesday, August 5th. Finally, TD Cowen dropped their target price on shares of Nextpower from $135.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 20th.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 67,636 shares of Nextpower stock in a transaction on Monday, August 10th. The shares were sold at an average price of $103.07, for a total value of $6,971,242.52. Following the completion of the transaction, the chief executive officer owned 871,131 shares of the company’s stock, valued at $89,787,472.17. The trade was a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Blunden sold 3,692 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.10, for a total transaction of $310,497.20. Following the sale, the director owned 2,742 shares of the company’s stock, valued at approximately $230,602.20. The trade was a 57.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 100,431 shares of company stock valued at $10,039,748 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Nextpower

A number of institutional investors have recently modified their holdings of the business. Signature Equity Partners LLC boosted its stake in 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 acquiring an additional 113 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the period. Continuum Advisory LLC acquired a new stake in shares of Nextpower during the 2nd quarter worth approximately $37,000. Huntington National Bank lifted its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Nextpower in the 4th quarter worth approximately $39,000. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $84.50 on Tuesday. Nextpower has a 1 year low of $64.30 and a 1 year high of $163.13. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.70 and a beta of 1.92. The stock’s 50-day simple moving average is $98.65 and its 200-day simple moving average is $112.98.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, beating 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 firm had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. As a group, research analysts predict that Nextpower will post 3.7 EPS for the current year.

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.