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

Nextpower Inc. (NASDAQ:NXT - Get Free Report) 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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source