Nextpower (NASDAQ:NXT) President Howard Wenger Sells 11,176 Shares

Key Points

• President Howard Wenger sold 11,176 Nextpower shares at an average price of $104.78, generating approximately $1.17 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 419,868 shares.
• Nextpower shares recently traded at $103.67, below their 50-day and 200-day moving averages. The stock has ranged from $52.61 to $163.13 over the past year and carries a market capitalization of about $15.73 billion.
• The company exceeded quarterly EPS expectations, reporting $1.20 versus the $1.05 consensus estimate, while revenue was approximately $935.17 million. Analysts maintain a Moderate Buy consensus rating with an average price target of $146.12.

Nextpower Inc. (NASDAQ:NXT - Get Free Report) President Howard Wenger sold 11,176 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total transaction of $1,171,021.28. Following the completion of the sale, the president owned 419,868 shares in the company, valued at $43,993,769.04. This represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Howard Wenger also recently made the following trade(s):

• On Tuesday, May 26th, Howard Wenger sold 62,670 shares of Nextpower stock. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50.
• On Friday, May 22nd, Howard Wenger sold 9,051 shares of Nextpower stock. The stock was sold at an average price of $121.02, for a total value of $1,095,352.02.
• On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The stock was sold at an average price of $127.32, for a total value of $2,048,578.80.

Nextpower Price Performance

Shares of NXT stock traded down $1.21 during trading hours on Wednesday, reaching $103.67. The company had a trading volume of 2,052,466 shares, compared to its average volume of 2,477,895. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 2.06 and a beta of 1.95. Nextpower Inc. has a 12 month low of $52.61 and a 12 month high of $163.13. The business has a fifty day simple moving average of $111.70 and a 200-day simple moving average of $116.51.

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

Institutional Trading of Nextpower

Large investors have recently added to or reduced their stakes in the stock. Great Lakes Advisors LLC purchased a new position in Nextpower in the second quarter valued at about $482,000. Trust Co. of Vermont bought a new position in shares of Nextpower during the 2nd quarter valued at approximately $63,000. Wedge Capital Management L L P NC increased its stake in shares of Nextpower by 20.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 600,671 shares of the company's stock worth $71,564,000 after purchasing an additional 100,186 shares during the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of Nextpower by 26.5% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 50,098 shares of the company's stock worth $5,969,000 after purchasing an additional 10,500 shares during the period. Finally, Franklin Street Advisors Inc. NC bought a new stake in shares of Nextpower in the 2nd quarter worth approximately $684,000. Hedge funds and other institutional investors own 67.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on NXT shares. Truist Financial increased their target price on shares of Nextpower from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, July 31st. Needham & Company LLC restated a "buy" rating and set a $149.00 price target on shares of Nextpower in a report on Friday, May 29th. Mizuho reduced their price objective on shares of Nextpower from $142.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. UBS Group reiterated a "buy" rating and issued a $160.00 price objective on shares of Nextpower in a research note on Monday, August 3rd. Finally, KeyCorp lifted their target price on shares of Nextpower from $152.00 to $164.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.12.

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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