Nextpower Inc. (NASDAQ:NXT - Get Free Report) Director Julia Blunden sold 3,692 shares of the firm's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.10, for a total transaction of $310,497.20. Following the completion of the sale, the director owned 2,742 shares of the company's stock, valued at $230,602.20. The trade was a 57.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Julia Blunden also recently made the following trade(s):
- On Friday, August 21st, Julia Blunden sold 3,723 shares of Nextpower stock. The stock was sold at an average price of $88.08, for a total transaction of $327,921.84.
- On Wednesday, August 5th, Julia Blunden sold 2,289 shares of Nextpower stock. The shares were sold at an average price of $97.22, for a total transaction of $222,536.58.
Nextpower Price Performance
Shares of Nextpower stock opened at $84.72 on Tuesday. The firm has a 50 day simple moving average of $105.66 and a 200 day simple moving average of $115.34. Nextpower Inc. has a fifty-two week low of $64.30 and a fifty-two week high of $163.13. The firm has a market cap of $12.85 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.73 and a beta of 1.95.
Nextpower (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. The firm had revenue of $935.17 million for the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. On average, sell-side analysts expect that Nextpower Inc. will post 3.73 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Nextpower by 19.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company's stock worth $18,436,000 after purchasing an additional 71,842 shares during the period. M&T Bank Corp acquired a new stake in Nextpower during the 2nd quarter worth approximately $223,000. EverSource Wealth Advisors LLC lifted its stake in Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock valued at $61,000 after buying an additional 724 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company's stock valued at $1,008,000 after buying an additional 11,239 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Nextpower by 36.5% during the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company's stock worth $12,122,000 after acquiring an additional 59,573 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages have recently commented on NXT. Wells Fargo & Company lifted their price target 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. Citigroup cut their price target on Nextpower from $145.00 to $132.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Zacks Research cut Nextpower from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Freedom Capital upgraded Nextpower from a "hold" rating to a "strong-buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings cut Nextpower from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $146.12.
Read Our Latest Stock Analysis on Nextpower
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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