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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Nextpower, with 22 buy ratings, four holds and two strong buys among 28 brokerages. The average 12-month price target is $143.42.
• Recent analyst actions were mixed: Truist raised its target to $145, while RBC and Robert W. Baird cut theirs to $147 and $116, respectively; Zacks downgraded the stock to “hold.”
• Nextpower reported quarterly EPS of $1.20, beating the $1.05 consensus estimate, while revenue of $935.17 million was essentially in line with expectations. The stock opened at $80.85, well below its 52-week high of $163.13.

Shares of Nextpower Inc. (NASDAQ:NXT - Get Free Report) have received an average rating of "Moderate Buy" from the twenty-eight brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $143.42.

A number of equities research analysts have weighed in on NXT shares. Truist Financial boosted their price objective on Nextpower from $140.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Zacks Research downgraded shares of Nextpower from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Royal Bank Of Canada decreased their price target on shares of Nextpower from $149.00 to $147.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Jefferies Financial Group reissued a "buy" rating and set a $131.00 price objective on shares of Nextpower in a research report on Friday, July 31st. Finally, Robert W. Baird dropped their price objective on shares of Nextpower from $156.00 to $116.00 and set an "outperform" rating on the stock in a research note on Tuesday.

Insider Buying and Selling at Nextpower

In related news, CFO Charles Boynton sold 4,500 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total transaction of $359,910.00. Following the transaction, the chief financial officer owned 354,000 shares of the company's stock, valued at $28,312,920. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Shugar sold 67,636 shares of the business's stock in a transaction dated 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 in the company, valued at $89,787,472.17. This trade represents a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 100,431 shares of company stock valued at $10,039,748. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Nextpower

Several hedge funds have recently modified their holdings of NXT. QRG Capital Management Inc. grew its position in Nextpower by 22.8% in the 2nd quarter. QRG Capital Management Inc. now owns 5,515 shares of the company's stock valued at $657,000 after buying an additional 1,023 shares during the last quarter. Reynders McVeigh Capital Management LLC lifted its stake in shares of Nextpower by 15.0% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 157,897 shares of the company's stock worth $18,812,000 after acquiring an additional 20,547 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of Nextpower by 20.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,076 shares of the company's stock worth $366,000 after acquiring an additional 527 shares during the period. Tidal Investments LLC boosted its holdings in shares of Nextpower by 20.2% in the second quarter. Tidal Investments LLC now owns 102,483 shares of the company's stock valued at $12,210,000 after acquiring an additional 17,221 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in shares of Nextpower by 5.2% in the second quarter. Integrated Wealth Concepts LLC now owns 6,612 shares of the company's stock valued at $788,000 after acquiring an additional 329 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Stock Performance

Shares of NXT stock opened at $80.85 on Friday. The stock's 50-day moving average is $90.70 and its two-hundred day moving average is $110.13. Nextpower has a 1 year low of $70.92 and a 1 year high of $163.13. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.59 and a beta of 1.92.

Nextpower (NASDAQ:NXT - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.15. The business had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. As a group, research analysts predict that Nextpower will post 3.76 EPS for the current year.

Nextpower Company Profile

Nextracker Inc NASDAQ: NXT is a solar technology company that designs, manufactures and supplies intelligent solar tracker systems for utility-scale and distributed-generation photovoltaic projects. Its tracker systems adjust the position of solar panels throughout the day to help optimize energy production.

The company's product portfolio includes single-axis solar tracking systems, associated hardware and controls, as well as software and digital tools used to monitor and manage solar plant performance.

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