Key Points
- Nextpower CEO Daniel Shugar sold 59,456 shares on March 9 at an average of $105.17, raising about $6.25 million and trimming his holdings by 7.38% to 746,339 shares (≈$78.5M).
- Nextpower beat quarterly estimates, reporting $1.10 EPS vs $0.93 expected and $909.35M in revenue (vs. $812.43M), with a 16.43% net margin and analysts projecting about 3.29 EPS for the year.
- The stock trades near $108 with a market cap of $16.06B, a P/E of 27.65 and a 52-week range of $36.06–$131.59; consensus sentiment is a "Moderate Buy" with a $108.32 price target.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) CEO Daniel Shugar sold 59,456 shares of Nextpower stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the sale, the chief executive officer owned 746,339 shares of the company's stock, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Nextpower Price Performance
NXT opened at $108.13 on Tuesday. The firm has a 50 day simple moving average of $106.66 and a 200 day simple moving average of $92.15. Nextpower Inc. has a fifty-two week low of $36.06 and a fifty-two week high of $131.59. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.98 and a beta of 2.41.
Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (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 firm had revenue of $909.35 million for the quarter, compared to analysts' expectations of $812.43 million. As a group, analysts expect that Nextpower Inc. will post 3.29 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP grew its position in shares of Nextpower by 6.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company's stock valued at $103,442,000 after purchasing an additional 80,493 shares during the period. Bank of New York Mellon Corp lifted its stake in Nextpower by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company's stock valued at $61,900,000 after buying an additional 35,642 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Nextpower in the third quarter valued at approximately $832,000. Strs Ohio boosted its holdings in shares of Nextpower by 219.8% in the third quarter. Strs Ohio now owns 110,000 shares of the company's stock valued at $8,139,000 after buying an additional 75,600 shares during the period. Finally, New York Life Investment Management LLC acquired a new position in shares of Nextpower in the third quarter valued at approximately $1,008,000. 67.41% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Northland Securities set a $111.00 price objective on Nextpower in a research note on Tuesday, January 6th. Bank of America increased their target price on Nextpower from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Mizuho set a $81.00 target price on Nextpower in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Nextpower in a research note on Monday, December 29th. Finally, Jefferies Financial Group downgraded shares of Nextpower from a "strong-buy" rating to a "hold" rating in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $108.32.
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Nextpower Company Profile
(
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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.
Further Reading
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