Insider Selling: Nextpower (NASDAQ:NXT) Director Sells $327,921.84 in Stock

Nextpower Inc. (NASDAQ:NXT) Director Julia Blunden sold 3,723 shares of Nextpower stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $88.08, for a total value of $327,921.84. Following the completion of the transaction, the director owned 6,434 shares of the company’s stock, valued at $566,706.72. The trade was a 36.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Julia Blunden also recently made the following trade(s):

• On Monday, August 24th, Julia Blunden sold 3,692 shares of Nextpower stock. The stock was sold at an average price of $84.10, for a total transaction of $310,497.20.
• 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 Stock Up 2.9%

Shares of Nextpower stock opened at $87.23 on Thursday. Nextpower Inc. has a 52-week low of $64.30 and a 52-week high of $163.13. The company has a 50 day moving average of $104.13 and a 200 day moving average of $114.92. The company has a market capitalization of $13.24 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.70 and a beta of 1.95.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Signature Equity Partners LLC boosted its stake in shares of Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the period. Smartleaf Asset Management LLC increased its position in Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after acquiring an additional 155 shares during the period. Continuum Advisory LLC acquired a new position in Nextpower in the 2nd quarter valued at about $37,000. Huntington National Bank raised its stake in Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after acquiring an additional 317 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Nextpower during the 4th quarter valued at approximately $39,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on NXT. Freedom Capital raised Nextpower from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. The Goldman Sachs Group reiterated a “buy” rating and issued a $168.00 price objective on shares of Nextpower in a report on Wednesday, July 1st. Robert W. Baird boosted their target price on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. TD Cowen lowered their price target on Nextpower from $135.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 20th. Finally, Citigroup dropped their price target on shares of Nextpower from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.12.

Nextpower Company Profile

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.