Nextpower Inc. (NASDAQ:NXT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Nextpower Inc. (NASDAQ:NXT) has been assigned an average recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $111.4926.

A number of research firms have recently issued reports on NXT. Mizuho set a $81.00 price objective on Nextpower in a research report on Friday, January 23rd. UBS Group raised their target price on Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Wall Street Zen downgraded shares of Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. Wells Fargo & Company increased their price objective on shares of Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Finally, TD Cowen raised their price objective on shares of Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th.

Insider Activity

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

Institutional Trading of Nextpower

A number of large investors have recently bought and sold shares of NXT. Rockefeller Capital Management L.P. raised its stake in Nextpower by 451.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,274 shares of the company’s stock worth $808,000 after acquiring an additional 7,591 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in shares of Nextpower in the 4th quarter valued at $394,000. Corient Private Wealth LLC grew its holdings in shares of Nextpower by 35.5% in the 4th quarter. Corient Private Wealth LLC now owns 14,692 shares of the company’s stock worth $1,280,000 after purchasing an additional 3,852 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Nextpower in the 4th quarter worth about $233,000. Finally, Pacer Advisors Inc. increased its position in shares of Nextpower by 10.1% during the 4th quarter. Pacer Advisors Inc. now owns 21,717 shares of the company’s stock worth $1,892,000 after purchasing an additional 1,997 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextpower Stock Performance

NASDAQ NXT opened at $113.08 on Friday. Nextpower has a twelve month low of $36.06 and a twelve month high of $131.72. The stock has a market cap of $16.79 billion, a PE ratio of 28.92, a PEG ratio of 2.57 and a beta of 2.02. The firm has a 50-day simple moving average of $115.65 and a 200 day simple moving average of $98.48.

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

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.