Susquehanna Issues Positive Forecast for Nextpower (NASDAQ:NXT) Stock Price

Nextpower (NASDAQ:NXT) had its price objective lifted by analysts at Susquehanna from $133.00 to $136.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 16.69% from the stock’s previous close.

Several other research analysts also recently weighed in on NXT. KeyCorp reaffirmed an “overweight” rating on shares of Nextpower in a research note on Friday, March 13th. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $104.00 target price on shares of Nextpower in a research note on Wednesday, January 28th. Glj Research reaffirmed a “buy” rating and set a $147.33 target price on shares of Nextpower in a research note on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $119.00 target price on shares of Nextpower in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.41.

Nextpower Trading Up 0.1%

Nextpower stock traded up $0.14 during mid-day trading on Thursday, hitting $116.55. The company had a trading volume of 81,112 shares, compared to its average volume of 1,965,681. Nextpower has a 12-month low of $36.15 and a 12-month high of $131.72. The company’s fifty day moving average is $115.66 and its 200-day moving average is $99.56. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 2.57 and a beta of 2.02.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. As a group, sell-side analysts expect that Nextpower will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Watkins sold 5,000 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares of the company’s stock, valued at approximately $1,396,398.89. This represents a 29.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 104,348 shares of company stock valued at $10,876,525. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in Nextpower by 451.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 9,274 shares of the company’s stock valued at $808,000 after purchasing an additional 7,591 shares during the last quarter. Osbon Capital Management LLC acquired a new position in Nextpower in the 4th quarter valued at $394,000. Corient Private Wealth LLC raised its stake in Nextpower by 35.5% in the 4th quarter. Corient Private Wealth LLC now owns 14,692 shares of the company’s stock valued at $1,280,000 after purchasing an additional 3,852 shares during the last quarter. Rehmann Capital Advisory Group acquired a new position in Nextpower in the 4th quarter valued at $233,000. Finally, Pacer Advisors Inc. raised its stake in Nextpower by 10.1% in the 4th quarter. Pacer Advisors Inc. now owns 21,717 shares of the company’s stock valued at $1,892,000 after purchasing an additional 1,997 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

About Nextpower

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.