Nextpower (NASDAQ:NXT) Stock Price Down 4.3% - Should You Sell?

Key Points

• NXT fell 4.3% on Monday to about $106.61, with only 97,711 shares trading — a roughly 95% decline from its average daily volume of 1.96 million shares.
• Analysts are generally positive: market consensus is a "Moderate Buy" with an average price target of $114.49, and several firms raised targets (Needham $138, Goldman Sachs $140).
• Nextpower reported a strong quarter, beating estimates with $1.10 EPS vs. $0.93 and $909.35M revenue vs. $812.43M expected, but insiders sold about 104,348 shares last quarter (including the CEO), representing notable insider selling.

Shares of Nextpower Inc. (NASDAQ:NXT - Get Free Report) dropped 4.3% during trading on Monday . The stock traded as low as $107.39 and last traded at $106.61. Approximately 97,711 shares changed hands during trading, a decline of 95% from the average daily volume of 1,963,016 shares. The stock had previously closed at $111.39.

Analysts Set New Price Targets

A number of brokerages have weighed in on NXT. Needham & Company LLC lifted their price target on shares of Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a report on Thursday, January 29th. The Goldman Sachs Group set a $140.00 price objective on Nextpower and gave the stock a "buy" rating in a report on Tuesday, April 14th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Nextpower in a report on Friday, March 27th. TD Cowen boosted their price target on Nextpower from $88.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday, January 28th. Finally, Mizuho set a $81.00 price target on Nextpower in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Nextpower presently has an average rating of "Moderate Buy" and an average price target of $114.49.

Nextpower Stock Down 3.6%

The firm's 50 day simple moving average is $114.86 and its 200-day simple moving average is $101.65. The company has a market capitalization of $15.94 billion, a PE ratio of 27.44, a P/E/G ratio of 2.56 and a beta of 2.02.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million for the quarter, compared to the consensus estimate of $812.43 million. As a group, sell-side analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Nextpower

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC increased 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 buying an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Nextpower by 268.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock worth $28,000 after buying an additional 223 shares in the last quarter. Huntington National Bank boosted its position in Nextpower by 480.3% in the 4th 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 last quarter. Baillie Gifford & Co. boosted its position in Nextpower by 76.5% in the 4th 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 last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Nextpower during the fourth quarter valued at about $39,000. 67.41% of the stock is currently owned by hedge funds and other 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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