Key Points
- CEO Daniel Shugar sold 67,636 Nextpower shares at an average price of $103.07, generating approximately $6.97 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 7.2% to 871,131 shares.
- Nextpower recently reported quarterly EPS of $1.20, exceeding analyst expectations of $1.05, while revenue reached $935.17 million. The company posted a 16.36% net margin and 26.29% return on equity.
- Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $146.12, compared with the stock’s opening price of $104.88. Institutional investors own 67.41% of the company.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) CEO Daniel Shugar sold 67,636 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $103.07, for a total value of $6,971,242.52. Following the completion of the transaction, the chief executive officer owned 871,131 shares of the company's stock, valued at approximately $89,787,472.17. This represents a 7.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nextpower Stock Up 1.9%
Nextpower stock opened at $104.88 on Wednesday. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The firm's 50-day simple moving average is $111.70 and its 200 day simple moving average is $116.51. The firm has a market capitalization of $15.91 billion, a PE ratio of 27.17, a P/E/G ratio of 2.06 and a beta of 1.95.
Nextpower (NASDAQ:NXT - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.15. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The firm had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. On average, research analysts expect that Nextpower Inc. will post 3.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on NXT. Guggenheim upgraded shares of Nextpower from a "neutral" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Wednesday, July 15th. Needham & Company LLC reiterated a "buy" rating and set a $149.00 price target on shares of Nextpower in a report on Friday, May 29th. Royal Bank Of Canada cut their price objective on shares of Nextpower from $149.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Wells Fargo & Company raised their target price on shares of Nextpower from $143.00 to $151.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $131.00 target price on shares of Nextpower in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nextpower has an average rating of "Moderate Buy" and a consensus price target of $146.12.
Read Our Latest Stock Analysis on Nextpower
Institutional Trading of Nextpower
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXT. Jupiter Asset Management Ltd. lifted its holdings in Nextpower by 0.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company's stock worth $2,326,000 after acquiring an additional 86 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of Nextpower by 30.0% during the first quarter. Root Financial Partners LLC now owns 446 shares of the company's stock valued at $54,000 after purchasing an additional 103 shares during the last quarter. Signature Equity Partners LLC raised its position in shares of Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company's stock worth $31,000 after purchasing an additional 113 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Nextpower by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company's stock worth $719,000 after purchasing an additional 119 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Nextpower by 12.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company's stock worth $114,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.
Nextpower Company Profile
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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.
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