Key Points
- Nextpower CFO Charles Boynton sold 4,500 shares at an average price of $79.98, generating $359,910. The sale, conducted under a Rule 10b5-1 plan, reduced his holdings by 1.26% to 354,000 shares.
- Nextpower’s stock opened at $82.55, down 0.6%, and remains below its 50-day and 200-day moving averages. The company recently exceeded quarterly EPS estimates, reporting $1.20 versus the $1.05 consensus, on revenue of $935.17 million.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $146.12, while institutional investors own 67.41% of the company’s shares.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) CFO Charles Boynton sold 4,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total transaction of $359,910.00. Following the sale, the chief financial officer owned 354,000 shares of the company's stock, valued at approximately $28,312,920. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nextpower Stock Down 0.6%
Nextpower stock opened at $82.55 on Thursday. Nextpower Inc. has a 12 month low of $64.30 and a 12 month high of $163.13. The company's fifty day simple moving average is $100.22 and its 200-day simple moving average is $113.71. The stock has a market cap of $12.53 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.67 and a beta of 1.92.
Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.15. Nextpower had a return on equity of 26.29% and a net margin of 16.36%.The firm had revenue of $935.17 million during the quarter, compared to analysts' expectations of $935.39 million. On average, equities research analysts expect that Nextpower Inc. will post 3.7 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. KeyCorp boosted their price target on Nextpower from $152.00 to $164.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Zacks Research lowered shares of Nextpower from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Wolfe Research reiterated an "outperform" rating and issued a $160.00 target price on shares of Nextpower in a research note on Friday, May 29th. The Goldman Sachs Group reissued a "buy" rating and issued a $168.00 target price on shares of Nextpower in a research report on Wednesday, July 1st. Finally, Barclays increased their price target on shares of Nextpower from $142.00 to $147.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 7th. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $146.12.
Read Our Latest Analysis on NXT
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in NXT. Legal & General Group Plc grew its holdings in Nextpower by 4.6% during the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company's stock valued at $36,090,000 after purchasing an additional 18,380 shares during the last quarter. Gateway Investment Advisers LLC raised its position in shares of Nextpower by 215.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company's stock valued at $2,091,000 after purchasing an additional 16,388 shares during the period. Vestcor Inc lifted its stake in shares of Nextpower by 480.8% in the fourth quarter. Vestcor Inc now owns 21,947 shares of the company's stock worth $1,912,000 after buying an additional 18,168 shares during the last quarter. Flputnam Investment Management Co. acquired a new stake in shares of Nextpower in the fourth quarter worth $615,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Nextpower during the 4th quarter worth $5,081,000. Institutional investors and hedge funds own 67.41% of the company's stock.
Nextpower Company Profile
(
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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