Nextpower (NASDAQ:NXT) Director Sells 7,415 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) Director Brandi Elizabeth Thomas sold 7,415 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total value of $676,618.75. Following the transaction, the director owned 7,914 shares in the company, valued at approximately $722,152.50. This trade represents a 48.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Nextpower Trading Down 4.6%

Shares of NXT stock traded down $4.26 on Thursday, reaching $87.86. The company had a trading volume of 2,018,557 shares, compared to its average volume of 2,460,022. The stock has a market cap of $13.33 billion, a PE ratio of 22.76, a PEG ratio of 1.83 and a beta of 1.95. The company has a 50-day moving average of $107.84 and a 200-day moving average of $116.00. Nextpower Inc. has a 12 month low of $63.87 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The business had revenue of $935.17 million for the quarter, compared to the consensus estimate of $935.39 million. Sell-side analysts anticipate that Nextpower Inc. will post 3.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Signature Equity Partners LLC boosted its position in 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 acquiring an additional 113 shares during the last quarter. Huntington National Bank boosted its position in Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after acquiring an additional 317 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after acquiring an additional 414 shares in the last quarter. Finally, BOKF NA grew its stake in shares of Nextpower by 1,135.7% during the 3rd quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after acquiring an additional 477 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NXT shares. Susquehanna lowered their price objective on shares of Nextpower from $168.00 to $157.00 and set a “positive” rating for the company in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $137.00 target price on Nextpower in a report on Monday, August 3rd. Wall Street Zen downgraded Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on Nextpower from $179.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Mizuho lowered their target price on Nextpower from $142.00 to $111.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.12.

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.