Key Points
- Nextpower President Howard Wenger sold 11,176 shares at an average price of $104.78, generating approximately $1.17 million. The transaction was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 419,868 shares.
- Nextpower shares opened at $103.67 and were down 1.2%, with the stock trading below both its 50-day and 200-day moving averages. The company recently reported quarterly EPS of $1.20, beating analyst expectations of $1.05, while revenue was approximately $935.17 million.
- Analysts maintain a generally positive outlook, giving the stock a consensus “Moderate Buy” rating and an average price target of $146.12. Institutional investors own 67.41% of the company’s shares.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) President Howard Wenger sold 11,176 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total value of $1,171,021.28. Following the completion of the sale, the president directly owned 419,868 shares of the company's stock, valued at $43,993,769.04. The trade was a 2.59% decrease in their position. The sale was disclosed in a document filed 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 transaction 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 transaction 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 transaction of $2,048,578.80.
Nextpower Trading Down 1.2%
NASDAQ:NXT opened at $103.67 on Thursday. Nextpower Inc. has a 12 month low of $52.61 and a 12 month high of $163.13. The company has a 50-day moving average price of $110.84 and a 200-day moving average price of $116.50. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.10 and a beta of 1.95.
Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.20 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 analyst estimates of $935.39 million. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. Equities analysts forecast that Nextpower Inc. will post 3.73 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Nextpower in the fourth quarter worth $170,918,000. Amundi raised its position in shares of Nextpower by 156.1% in the 3rd quarter. Amundi now owns 2,111,628 shares of the company's stock worth $161,600,000 after purchasing an additional 1,287,071 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Nextpower by 134.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company's stock worth $164,488,000 after purchasing an additional 780,958 shares during the last quarter. Electron Capital Partners LLC boosted its stake in Nextpower by 2,017.7% in the 3rd quarter. Electron Capital Partners LLC now owns 566,415 shares of the company's stock worth $41,909,000 after purchasing an additional 539,668 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Nextpower by 142.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company's stock worth $73,879,000 after purchasing an additional 498,110 shares in the last quarter. Institutional investors own 67.41% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $149.00 price target on shares of Nextpower in a research report on Friday, May 29th. Mizuho lowered their price objective on Nextpower from $142.00 to $111.00 and set a "neutral" rating for the company in a research report on Tuesday, August 4th. Citigroup reduced their target price on shares of Nextpower from $145.00 to $132.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $168.00 price target on shares of Nextpower in a research note on Wednesday, July 1st. Finally, Loop Capital set a $135.00 price target on shares of Nextpower in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $146.12.
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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.
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