Nextpower (NASDAQ:NXT) Director Sells $310,497.20 in Stock

Key Points

• Director Julia Blunden sold 3,692 Nextpower shares at an average price of $84.10, generating $310,497.20 and reducing her direct ownership by 57.38% to 2,742 shares. She also sold shares in two earlier August transactions.
• Nextpower shares fell to $84.72, well below their 50-day and 200-day moving averages of $106.49 and $115.59, respectively. The stock has traded between $64.30 and $163.13 over the past year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $146.12, while the company recently reported quarterly EPS of $1.20, exceeding expectations of $1.05.

Nextpower Inc. (NASDAQ:NXT - Get Free Report) Director Julia Blunden sold 3,692 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $84.10, for a total value of $310,497.20. Following the sale, the director directly owned 2,742 shares of the company's stock, valued at approximately $230,602.20. This represents a 57.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, August 21st, Julia Blunden sold 3,723 shares of Nextpower stock. The shares were sold at an average price of $88.08, for a total value of $327,921.84.
• On Wednesday, August 5th, Julia Blunden sold 2,289 shares of Nextpower stock. The shares were sold at an average price of $97.22, for a total value of $222,536.58.

Nextpower Price Performance

NASDAQ NXT traded down $1.46 on Monday, hitting $84.72. 1,940,050 shares of the company were exchanged, compared to its average volume of 2,459,307. Nextpower Inc. has a twelve month low of $64.30 and a twelve month high of $163.13. The firm has a market capitalization of $12.85 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.73 and a beta of 1.95. The company's 50 day moving average price is $106.49 and its 200-day moving average price is $115.59.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The company had revenue of $935.17 million during the quarter, compared to analysts' expectations of $935.39 million. As a group, equities analysts expect that Nextpower Inc. will post 3.73 EPS for the current year.

Analyst Ratings Changes

NXT has been the subject of several recent analyst reports. Susquehanna decreased their target price on Nextpower from $168.00 to $157.00 and set a "positive" rating for the company in a research report on Friday, July 31st. Glj Research reaffirmed a "buy" rating and set a $149.00 target price on shares of Nextpower in a research note on Wednesday, August 5th. Northland Securities upped their target price on Nextpower from $148.00 to $162.00 and gave the company an "outperform" rating in a report on Friday, May 29th. TD Cowen decreased their price target on shares of Nextpower from $135.00 to $118.00 and set a "hold" rating for the company in a report on Monday, July 20th. Finally, BNP Paribas Exane boosted their price objective on shares of Nextpower from $177.00 to $182.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $146.12.

Institutional Investors Weigh In On Nextpower

Several large investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in Nextpower by 11,488.4% during the second quarter. California State Teachers Retirement System now owns 20,045,186 shares of the company's stock valued at $2,388,183,000 after acquiring an additional 19,872,209 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Nextpower by 12.2% during the 2nd quarter. HB Wealth Management LLC now owns 3,410 shares of the company's stock worth $406,000 after purchasing an additional 371 shares during the last quarter. Odyssean LLC raised its holdings in shares of Nextpower by 35.8% during the 2nd quarter. Odyssean LLC now owns 12,496 shares of the company's stock valued at $1,489,000 after purchasing an additional 3,295 shares in the last quarter. Raiffeisen Bank International AG lifted its stake in shares of Nextpower by 90.5% in the 2nd quarter. Raiffeisen Bank International AG now owns 3,355 shares of the company's stock valued at $391,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Continuum Advisory LLC bought a new stake in Nextpower in the second quarter worth $37,000. Institutional investors own 67.41% of the company's stock.

Nextpower Company Profile

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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