Key Points
- CEO Daniel Shugar sold 39,892 shares on March 4 at an average price of $101.04 for a total of $4,030,687.68, trimming his stake by 6.38% to 584,990 shares (worth about $59.11M).
- Nextpower recently beat quarterly expectations with EPS $1.10 vs. $0.93 and revenue $909.35M vs. $812.43M; the stock trades around $101, has a $15.06B market cap, and carries a consensus analyst rating of "Moderate Buy" with a $108.32 target.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) CEO Daniel Shugar sold 39,892 shares of Nextpower stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $101.04, for a total transaction of $4,030,687.68. Following the completion of the sale, the chief executive officer owned 584,990 shares in the company, valued at $59,107,389.60. This trade represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Nextpower Stock Down 1.9%
Shares of NXT stock opened at $101.43 on Friday. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59. The company's fifty day simple moving average is $106.30 and its 200-day simple moving average is $91.49. The firm has a market cap of $15.06 billion, a PE ratio of 25.94, a P/E/G ratio of 3.04 and a beta of 2.41.
Nextpower (NASDAQ:NXT - Get Free Report) last released its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share 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 during the quarter, compared to the consensus estimate of $812.43 million. On average, equities analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Nextpower
Large investors have recently modified their holdings of the stock. Rehmann Capital Advisory Group acquired a new stake in shares of Nextpower during the 4th quarter worth about $233,000. Pacer Advisors Inc. raised its holdings in Nextpower by 10.1% in the 4th quarter. Pacer Advisors Inc. now owns 21,717 shares of the company's stock valued at $1,892,000 after acquiring an additional 1,997 shares during the period. Mcguire Capital Advisors Inc. acquired a new stake in Nextpower during the fourth quarter worth approximately $230,000. Compound Planning Inc. acquired a new stake in Nextpower during the fourth quarter worth approximately $255,000. Finally, Invesco Ltd. lifted its position in Nextpower by 5.1% during the fourth quarter. Invesco Ltd. now owns 2,864,660 shares of the company's stock worth $249,541,000 after acquiring an additional 139,211 shares during the last quarter. 67.41% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on NXT shares. Wall Street Zen lowered Nextpower from a "strong-buy" rating to a "buy" rating in a report on Sunday, January 25th. Bank of America upped their price objective on Nextpower from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Thursday, January 22nd. Northland Securities set a $111.00 target price on shares of Nextpower in a research note on Tuesday, January 6th. Royal Bank Of Canada boosted their target price on shares of Nextpower from $93.00 to $96.00 and gave the stock an "outperform" rating in a report on Thursday, November 13th. Finally, Needham & Company LLC increased their price target on shares of Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $108.32.
Check Out Our Latest Analysis on NXT
About Nextpower
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
