Nextpower Inc. (NASDAQ:NXT) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Nextpower “Moderate Buy”: Of 28 covering brokerages, 23 recommend buying, four rate it a hold, and one gives a strong-buy rating. The average 12-month price target is $140.85.
• Shares are trading well below their 52-week high: NXT opened at $79.03, compared with a 52-week range of $76.71 to $163.13, while its 50-day and 200-day moving averages are $84.99 and $105.83, respectively.
• Quarterly earnings exceeded expectations: Nextpower reported $1.20 in EPS versus the $1.05 consensus estimate, with $935.17 million in revenue. Insiders have sold about $10.0 million of stock over the past 90 days, while institutions and hedge funds own 67.41% of shares.

Nextpower Inc. (NASDAQ:NXT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-eight brokerages that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $140.85.

NXT has been the topic of a number of research reports. Jefferies Financial Group set a $115.00 price target on shares of Nextpower in a research note on Friday. Barclays reduced their price target on shares of Nextpower from $147.00 to $146.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Roth Capital reissued a "buy" rating and set a $175.00 price objective on shares of Nextpower in a research report on Tuesday, July 28th. BMO Capital Markets upgraded shares of Nextpower from a "hold" rating to an "outperform" rating and set a $132.00 price objective on the stock in a report on Friday, July 31st. Finally, Susquehanna dropped their price objective on shares of Nextpower from $157.00 to $150.00 and set a "positive" rating on the stock in a report on Wednesday, October 14th.

Nextpower Price Performance

NASDAQ:NXT opened at $79.03 on Wednesday. Nextpower has a fifty-two week low of $76.71 and a fifty-two week high of $163.13. The stock has a market capitalization of $11.99 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.92 and a beta of 1.94. The business's 50-day simple moving average is $84.99 and its 200-day simple moving average is $105.83.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. The business had revenue of $935.17 million during the quarter, compared to analyst estimates of $935.39 million. On average, research analysts expect that Nextpower will post 3.80 earnings per share for the current year.

Insider Transactions at Nextpower

In other Nextpower news, Director Julia Blunden sold 3,723 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $88.08, for a total transaction of $327,921.84. Following the completion of the transaction, the director owned 6,434 shares in the company, valued at approximately $566,706.72. This represents a 36.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Howard Wenger sold 11,176 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total value of $1,171,021.28. Following the transaction, the president owned 419,868 shares of the company's stock, valued at approximately $43,993,769.04. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 100,431 shares of company stock worth $10,039,748. Company insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Root Financial Partners LLC grew its stake in shares of Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company's stock worth $54,000 after acquiring an additional 103 shares in the last quarter. Signature Equity Partners LLC raised its holdings in shares of Nextpower by 76.4% in the first 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. Janney Montgomery Scott LLC lifted its position in shares of Nextpower by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company's stock worth $719,000 after purchasing an additional 119 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Nextpower by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,810 shares of the company's stock worth $459,000 after purchasing an additional 173 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Nextpower by 2.9% during the first quarter. Glenmede Trust Co. NA now owns 8,532 shares of the company's stock worth $1,029,000 after purchasing an additional 244 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Company Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company's product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.

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