Insider Selling: Nextpower (NASDAQ:NXT) Director Sells 3,723 Shares

Key Points

• Director Julia Blunden sold 3,723 Nextpower shares at an average price of $88.08, generating $327,921.84 and reducing her ownership by 36.65% to 6,434 shares. She also recently reported two additional sales.
• Nextpower shares traded at $84.72, well below their 50-day and 200-day moving averages of $106.49 and $115.59, respectively. The stock’s 52-week range is $64.30 to $163.13.
• The company exceeded quarterly earnings expectations with EPS of $1.20 versus the $1.05 consensus, while analysts maintain a Moderate Buy consensus and an average price target of $146.12.

Nextpower Inc. (NASDAQ:NXT - Get Free Report) Director Julia Blunden sold 3,723 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $88.08, for a total value of $327,921.84. Following the completion of the sale, the director owned 6,434 shares in the company, valued at approximately $566,706.72. The trade was a 36.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Julia Blunden also recently made the following trade(s):

• On Monday, August 24th, Julia Blunden sold 3,692 shares of Nextpower stock. The stock was sold at an average price of $84.10, for a total value of $310,497.20.
• On Wednesday, August 5th, Julia Blunden sold 2,289 shares of Nextpower stock. The stock was sold at an average price of $97.22, for a total value of $222,536.58.

Nextpower Stock Performance

NXT stock traded down $1.46 during mid-day trading on Monday, reaching $84.72. The company had a trading volume of 1,940,050 shares, compared to its average volume of 2,459,307. The company has a market capitalization of $12.85 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.73 and a beta of 1.95. The firm has a fifty day simple moving average of $106.49 and a 200 day simple moving average of $115.59. Nextpower Inc. has a fifty-two week low of $64.30 and a fifty-two week high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $935.39 million. As a group, analysts predict that Nextpower Inc. will post 3.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $137.00 target price on Nextpower in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a "buy" rating and set a $168.00 price objective on shares of Nextpower in a report on Wednesday, July 1st. Northland Securities upped their target price on shares of Nextpower from $148.00 to $162.00 and gave the company an "outperform" rating in a report on Friday, May 29th. BMO Capital Markets raised shares of Nextpower from a "hold" rating to an "outperform" rating and set a $132.00 target price on the stock in a research report on Friday, July 31st. Finally, Mizuho cut their price target on shares of Nextpower from $142.00 to $111.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $146.12.

Institutional Investors Weigh In On Nextpower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signature Equity Partners LLC increased its holdings 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 acquiring an additional 113 shares during the period. Smartleaf Asset Management LLC boosted its stake in Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock worth $26,000 after purchasing an additional 155 shares during the period. Continuum Advisory LLC purchased a new position in Nextpower during the 2nd quarter worth $37,000. Huntington National Bank grew its position in Nextpower by 480.3% during 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 last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Nextpower in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 67.41% of the company's stock.

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.

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