Nextpower (NASDAQ:NXT) Posts Earnings Results, Beats Estimates By $0.21 EPS

Nextpower (NASDAQ:NXT) issued its quarterly earnings data on Wednesday. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.21, FiscalAI reports. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion.

Nextpower Price Performance

Shares of Nextpower stock traded up $2.64 during trading on Wednesday, hitting $82.08. The stock had a trading volume of 4,094,621 shares, compared to its average volume of 2,383,535. The firm’s fifty day simple moving average is $83.01 and its 200-day simple moving average is $106.86. The stock has a market cap of $12.45 billion, a PE ratio of 21.26, a PEG ratio of 1.90 and a beta of 1.94. Nextpower has a 12 month low of $75.40 and a 12 month high of $163.13.

Analyst Ratings Changes

A number of research firms recently weighed in on NXT. TD Cowen raised shares of Nextpower to a “hold” rating in a report on Monday, October 5th. JPMorgan Chase & Co. lowered their price objective on shares of Nextpower from $152.00 to $136.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nextpower in a research note on Tuesday. Piper Sandler reduced their target price on shares of Nextpower from $116.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $168.00 target price on shares of Nextpower in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.77.

Insider Activity at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 67,636 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $103.07, for a total transaction of $6,971,242.52. Following the completion of the transaction, the chief executive officer owned 871,131 shares in the company, valued at $89,787,472.17. The trade was a 7.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Blunden sold 3,723 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $88.08, for a total value of $327,921.84. Following the transaction, the director owned 6,434 shares of the company’s stock, valued at $566,706.72. This trade represents a 36.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 100,431 shares of company stock worth $10,039,748 in the last three months. 0.84% of the stock is owned by insiders.

Nextpower Company Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company’s product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.