Nextpower (NASDAQ:NXT) Given Buy Rating at Glj Research

Glj Research reiterated their buy rating on shares of Nextpower (NASDAQ:NXT) in a research note released on Monday,Benzinga reports. Glj Research currently has a $147.33 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Bank of America raised their price target on Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Needham & Company LLC boosted their price objective on Nextpower from $103.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. TD Cowen increased their target price on Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. UBS Group raised their target price on Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $104.00 price target on shares of Nextpower in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.01.

Nextpower Trading Down 1.3%

Shares of Nextpower stock opened at $118.09 on Monday. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 30.20, a P/E/G ratio of 2.84 and a beta of 2.41. The firm’s 50-day moving average price is $109.47 and its two-hundred day moving average price is $93.87. Nextpower has a 1-year low of $36.06 and a 1-year high of $131.59.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $909.35 million during the quarter, compared to analysts’ expectations of $812.43 million. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. As a group, equities research analysts predict that Nextpower will post 3.29 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 59,456 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William D. Watkins sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares in the company, valued at approximately $1,396,398.89. This represents a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 104,348 shares of company stock worth $10,876,525 over the last quarter. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Nextpower

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXT. Jupiter Asset Management Ltd. boosted its stake in shares of Nextpower by 0.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after purchasing an additional 86 shares during the last quarter. Signaturefd LLC raised its stake in shares of Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after buying an additional 126 shares during the last quarter. Allworth Financial LP lifted its holdings in Nextpower by 16.8% in the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after buying an additional 141 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Nextpower by 12.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $114,000 after acquiring an additional 143 shares during the last quarter. Finally, Natural Investments LLC boosted its stake in Nextpower by 0.9% in the third quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after acquiring an additional 155 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

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.