Nextpower (NASDAQ:NXT) Director Brandi Elizabeth Thomas Sells 7,415 Shares

Key Points

• Director Brandi Elizabeth Thomas sold 7,415 Nextpower shares for approximately $676,619 at an average price of $91.25, reducing her direct ownership by 48.37% to 7,914 shares.
• Nextpower shares fell to $87.86, while the stock has traded between $63.87 and $163.13 over the past year. The company recently reported quarterly EPS of $1.20, exceeding analyst expectations of $1.05, on revenue of roughly $935 million.
• Analysts maintain a “Moderate Buy” consensus, with 22 Buy, one Strong Buy and four Hold ratings and an average price target of $146.12; institutional investors own 67.41% of the stock.

Nextpower Inc. (NASDAQ:NXT - Get Free Report) Director Brandi Elizabeth Thomas sold 7,415 shares of the business's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total value of $676,618.75. Following the completion of the transaction, the director directly owned 7,914 shares in the company, valued at approximately $722,152.50. This represents a 48.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Nextpower Price Performance

Shares of NXT stock traded down $4.26 during trading hours on Thursday, hitting $87.86. 2,018,557 shares of the company's stock were exchanged, compared to its average volume of 2,460,022. Nextpower Inc. has a 52 week low of $63.87 and a 52 week high of $163.13. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.83 and a beta of 1.95. The stock's 50-day moving average is $107.84 and its 200-day moving average is $116.00.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $935.39 million. Equities research analysts forecast that Nextpower Inc. will post 3.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nextpower

Several large investors have recently bought and sold shares of the business. State Street Corp raised its position in shares of Nextpower by 0.6% during the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company's stock valued at $398,932,000 after acquiring an additional 31,689 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Nextpower by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company's stock valued at $350,385,000 after purchasing an additional 236,593 shares during the period. Invesco Ltd. boosted its position in shares of Nextpower by 5.1% in the 4th quarter. Invesco Ltd. now owns 2,864,660 shares of the company's stock worth $249,541,000 after purchasing an additional 139,211 shares during the last quarter. Fundsmith LLP bought a new position in shares of Nextpower in the 2nd quarter worth $340,275,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Nextpower by 4.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company's stock worth $211,627,000 after purchasing an additional 111,782 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on NXT. Barclays increased their price target on shares of Nextpower from $142.00 to $147.00 and gave the company an "overweight" rating in a research note on Tuesday, July 7th. BNP Paribas Exane boosted their price objective on shares of Nextpower from $177.00 to $182.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Northland Securities upped their price objective on Nextpower from $148.00 to $162.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. UBS Group reiterated a "buy" rating and issued a $160.00 price objective on shares of Nextpower in a research report on Monday, August 3rd. Finally, Glj Research reissued a "buy" rating and issued a $149.00 target price on shares of Nextpower in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $146.12.

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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