Nextpower Inc. (NASDAQ:NXT) Stock Has Consensus Price Target of $134.93

Key Points

• Analyst sentiment is broadly positive: 29 brokerages rate Nextpower “Moderate Buy,” including 24 buy and one strong-buy rating; the average 12-month price target is $134.93.
• Recent quarterly results exceeded expectations: Nextpower reported EPS of $1.31 versus a $1.10 consensus estimate and revenue of $1.11 billion versus forecasts of $1.06 billion.
• Shares traded at $95.03 in Friday midday trading, below the consensus target. Recent analyst target changes were mixed, with some firms raising targets and others lowering them.

Shares of Nextpower Inc. (NASDAQ:NXT - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-nine brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $134.93.

A number of analysts recently commented on the company. Piper Sandler upped their price objective on Nextpower from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, November 9th. Glj Research raised their price target on Nextpower from $149.00 to $158.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. UBS Group reduced their price target on shares of Nextpower from $160.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Northland Securities set a $138.00 target price on shares of Nextpower in a report on Thursday, October 29th. Finally, Needham & Company LLC reduced their price objective on Nextpower from $149.00 to $143.00 and set a "buy" rating on the stock in a research note on Thursday, October 29th.

Nextpower Stock Performance

NXT traded up $1.43 during midday trading on Friday, hitting $95.03. The stock had a trading volume of 1,999,538 shares, compared to its average volume of 3,263,900. Nextpower has a 1 year low of $75.40 and a 1 year high of $163.13. The company has a market cap of $14.31 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.97 and a beta of 1.93. The business has a fifty day moving average of $85.28 and a 200 day moving average of $106.58.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.21. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.06 billion. Nextpower had a net margin of 15.98% and a return on equity of 25.33%. On average, equities research analysts anticipate that Nextpower will post 3.98 earnings per share for the current year.

Insider Activity

In other Nextpower news, CFO Charles Boynton sold 4,500 shares of the business's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $79.98, for a total value of $359,910.00. Following the completion of the sale, the chief financial officer directly owned 354,000 shares of the company's stock, valued at $28,312,920. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 that occurred on Monday, August 24th. The shares were sold at an average price of $84.10, for a total value of $310,497.20. Following the completion of the sale, the director owned 2,742 shares of the company's stock, valued at $230,602.20. The trade was a 57.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 19,330 shares of company stock valued at $1,674,948. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nextpower

Several institutional investors have recently added to or reduced their stakes in the business. Fundsmith LLP purchased a new stake in Nextpower in the second quarter valued at approximately $340,275,000. Pictet Asset Management Holding SA raised its position in Nextpower by 69.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 4,334,659 shares of the company's stock worth $337,899,000 after buying an additional 1,772,231 shares during the last quarter. First Trust Advisors LP raised its position in Nextpower by 483.9% during the 3rd quarter. First Trust Advisors LP now owns 3,837,011 shares of the company's stock worth $299,018,000 after buying an additional 3,179,899 shares during the last quarter. Bank of America Corp DE lifted its stake in Nextpower by 34.6% during the 1st quarter. Bank of America Corp DE now owns 1,568,235 shares of the company's stock valued at $189,051,000 after acquiring an additional 402,770 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Nextpower by 134.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company's stock valued at $164,488,000 after acquiring an additional 780,958 shares during the period. Institutional investors and hedge funds own 67.41% of the company's stock.

About Nextpower

Nextpower, Inc., formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project. The company's offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.

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