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

Nextpower Inc. (NASDAQ:NXT) has been assigned a consensus rating of “Moderate Buy” from the twenty-seven analysts that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $146.12.

Several equities research analysts have recently commented on NXT shares. BMO Capital Markets upgraded Nextpower from a “hold” rating to an “outperform” rating and set a $132.00 price objective for the company in a research note on Friday, July 31st. TD Cowen lowered their price target on shares of Nextpower from $135.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Zacks Research lowered shares of Nextpower from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Robert W. Baird increased their price objective on shares of Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft set a $137.00 target price on shares of Nextpower in a research note on Monday, August 3rd.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 67,636 shares of the business’s 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 sale, the chief executive officer owned 871,131 shares in the company, valued at $89,787,472.17. The trade was a 7.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 11,176 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total value of $1,171,021.28. Following the transaction, the president directly owned 419,868 shares of the company’s stock, valued at approximately $43,993,769.04. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 95,931 shares of company stock worth $9,679,838 over the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Signature Equity Partners LLC lifted its stake in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Huntington National Bank boosted 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 period. Continuum Advisory LLC bought a new position in shares of Nextpower during the 2nd quarter valued at approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after purchasing an additional 414 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextpower Trading Down 4.0%

Shares of NASDAQ NXT opened at $82.00 on Tuesday. The firm has a 50 day moving average of $101.65 and a 200 day moving average of $114.19. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.72 and a beta of 1.95. Nextpower has a 12-month low of $64.30 and a 12-month high of $163.13.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $935.17 million for the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. Sell-side 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.