Nextpower Inc. (NASDAQ:NXT) Stock Has Average Target Price of $143.42

by · The Cerbat Gem

Nextpower Inc. (NASDAQ:NXT – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $143.42.

NXT has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of Nextpower from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Guggenheim raised Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, July 15th. Barclays boosted their target price on Nextpower from $142.00 to $147.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Zacks Research lowered Nextpower from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft set a $137.00 price target on Nextpower in a report on Monday, August 3rd.

Get Our Latest Research Report on NXT

Nextpower Trading Down 2.1%

Shares of NASDAQ:NXT opened at $79.13 on Friday. The company has a 50 day moving average of $90.28 and a 200 day moving average of $109.90. The stock has a market cap of $12.01 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.60 and a beta of 1.92. Nextpower has a 12 month low of $73.07 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT – Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, topping 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 analyst estimates of $935.39 million. On average, equities analysts forecast that Nextpower will post 3.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Howard Wenger sold 11,176 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total value of $1,171,021.28. Following the sale, the president directly owned 419,868 shares of the company’s stock, valued at $43,993,769.04. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brandi Thomas sold 7,415 shares of Nextpower stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total transaction of $676,618.75. Following the sale, the director owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. The trade was a 48.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 100,431 shares of company stock valued at $10,039,748 in the last 90 days. 0.84% of the stock is owned by company insiders.

Institutional Trading of Nextpower

A number of hedge funds have recently made changes to their positions in NXT. Signature Equity Partners LLC increased its stake in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares during the last quarter. Huntington National Bank lifted its stake in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Continuum Advisory LLC bought a new stake in Nextpower during the second quarter worth about $37,000. University of Texas Texas AM Investment Management Co. boosted its holdings in shares of Nextpower by 60.3% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 625 shares of the company’s stock worth $54,000 after purchasing an additional 235 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Nextpower by 30.0% in the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after purchasing an additional 103 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

About Nextpower

(Get Free Report)

Nextracker Inc (NASDAQ: NXT) is a solar technology company that designs, manufactures and supplies intelligent solar tracker systems for utility-scale and distributed-generation photovoltaic projects. Its tracker systems adjust the position of solar panels throughout the day to help optimize energy production.

The company’s product portfolio includes single-axis solar tracking systems, associated hardware and controls, as well as software and digital tools used to monitor and manage solar plant performance.

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