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

Key Points

• Analysts rate Nextpower a "Moderate Buy" — 26 analysts cover NXT (19 buys, 6 holds, 1 strong buy) with an average 12‑month price target of $117.79.
• Recent quarter beat expectations: Nextpower reported $1.10 EPS vs. $0.93 consensus and $909.35M revenue vs. $812.43M expected; the stock opened at $116.54, trades between $37.16–$131.72 over 12 months, and has a $17.3B market cap (P/E ~29.8).
• Notable insider selling: CEO Daniel S. Shugar sold 59,456 shares (avg $105.17) and insiders sold 104,348 shares totaling about $10.9M last quarter, with insiders owning 0.56% of the company.

Shares of Nextpower Inc. (NASDAQ:NXT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-six ratings firms that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $117.7877.

Several brokerages recently weighed in on NXT. Jefferies Financial Group upped their price objective on Nextpower from $122.00 to $138.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. BMO Capital Markets restated a "market perform" rating and set a $104.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. TD Cowen upped their price objective on Nextpower from $88.00 to $105.00 and gave the stock a "hold" rating in a research report on Wednesday, January 28th. Wells Fargo & Company upped their price objective on Nextpower from $109.00 to $127.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. Finally, Wall Street Zen downgraded Nextpower from a "buy" rating to a "hold" rating in a research report on Monday.

Nextpower Stock Down 4.9%

Shares of NXT stock opened at $116.54 on Wednesday. Nextpower has a twelve month low of $37.16 and a twelve month high of $131.72. The company has a market cap of $17.30 billion, a P/E ratio of 29.81, a P/E/G ratio of 5.83 and a beta of 2.02. The business has a fifty day simple moving average of $114.58 and a 200 day simple moving average of $103.47.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. As a group, equities research analysts anticipate that Nextpower will post 3.72 earnings per share for the current fiscal year.

Insider Activity

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Watkins sold 5,000 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares of the company's stock, valued at $1,396,398.89. This represents a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 104,348 shares of company stock valued at $10,876,525 over the last quarter. Corporate insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Nextpower

Large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its position in Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock valued at $28,000 after buying an additional 223 shares during the period. Huntington National Bank increased its stake in shares of Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock valued at $33,000 after buying an additional 317 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Nextpower in the third quarter valued at about $36,000. Finally, Baillie Gifford & Co. increased its stake in shares of Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock valued at $37,000 after buying an additional 182 shares during the period. 67.41% of the stock is currently owned by institutional investors.

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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