Nextpower (NASDAQ:NXT) Director Sells $676,618.75 in Stock

Nextpower Inc. (NASDAQ:NXT) Director Brandi Elizabeth Thomas sold 7,415 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total transaction of $676,618.75. Following the sale, the director directly owned 7,914 shares of the company’s stock, valued at $722,152.50. The trade was a 48.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Nextpower Stock Down 1.9%

Shares of NASDAQ NXT opened at $86.18 on Friday. The firm has a 50-day simple moving average of $106.49 and a 200-day simple moving average of $115.59. The stock has a market capitalization of $13.08 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.73 and a beta of 1.95. Nextpower Inc. has a 52 week low of $64.30 and a 52 week high of $163.13.

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

Institutional Trading of Nextpower

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Odyssean LLC raised its position in shares of Nextpower by 35.8% during the 2nd quarter. Odyssean LLC now owns 12,496 shares of the company’s stock valued at $1,489,000 after buying an additional 3,295 shares during the period. Raiffeisen Bank International AG grew its position in Nextpower by 90.5% in the second quarter. Raiffeisen Bank International AG now owns 3,355 shares of the company’s stock worth $391,000 after acquiring an additional 1,594 shares during the period. Continuum Advisory LLC purchased a new position in Nextpower in the second quarter worth approximately $37,000. Nykredit A S acquired a new stake in Nextpower during the second quarter worth $608,000. Finally, Nwam LLC increased its stake in Nextpower by 41.8% during the second quarter. Nwam LLC now owns 15,370 shares of the company’s stock worth $1,831,000 after acquiring an additional 4,527 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NXT. Deutsche Bank Aktiengesellschaft set a $137.00 price target on Nextpower in a research report on Monday, August 3rd. Citigroup reduced their price objective on Nextpower from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Zacks Research lowered Nextpower from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen cut Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $168.00 target price on shares of Nextpower in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nextpower has an average rating of “Moderate Buy” and a consensus target price of $146.12.

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.