Daniel Shugar Sells 39,892 Shares of Nextpower (NASDAQ:NXT) Stock

Nextpower Inc. (NASDAQ:NXT) CEO Daniel Shugar sold 39,892 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $101.04, for a total value of $4,030,687.68. Following the completion of the sale, the chief executive officer directly owned 584,990 shares of the company’s stock, valued at approximately $59,107,389.60. The trade was a 6.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Nextpower Price Performance

Nextpower stock opened at $101.43 on Friday. The stock’s 50 day moving average is $106.30 and its 200 day moving average is $91.66. Nextpower Inc. has a one year low of $36.06 and a one year high of $131.59. The firm has a market cap of $15.06 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.98 and a beta of 2.41.

Nextpower (NASDAQ:NXT) last released its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. Equities analysts anticipate that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Institutional Trading of Nextpower

Large investors have recently made changes to their positions in the company. 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 buying an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after acquiring an additional 223 shares in the last quarter. Huntington National Bank grew its stake in Nextpower by 480.3% in the fourth 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 period. Baillie Gifford & Co. grew its stake in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after acquiring an additional 182 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Nextpower during the fourth quarter valued at approximately $39,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets reissued a “market perform” rating and set a $104.00 target price on shares of Nextpower in a research note on Wednesday, January 28th. Wells Fargo & Company upped their price target on shares of Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Barclays set a $115.00 price target on Nextpower in a report on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research report on Monday, December 29th. Finally, Robert W. Baird set a $126.00 price objective on Nextpower in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.32.

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.