Nextpower Inc. (NASDAQ:NXT) Receives $108.32 Consensus Target Price from Brokerages

Shares of Nextpower Inc. (NASDAQ:NXT) have received an average rating of “Moderate Buy” from the twenty-six analysts that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $110.0143.

Several equities analysts have recently issued reports on NXT shares. Royal Bank Of Canada boosted their price target on shares of Nextpower from $93.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Wells Fargo & Company lifted their price objective 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 target price on shares of Nextpower in a research note on Thursday, January 29th. Needham & Company LLC raised their price target on shares of Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, TD Cowen lifted their price target on Nextpower from $88.00 to $105.00 and gave the company a “hold” rating in a report on Wednesday, January 28th.

Nextpower Trading Down 0.7%

Shares of Nextpower stock opened at $115.90 on Tuesday. The stock has a market capitalization of $17.21 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.77 and a beta of 2.41. Nextpower has a twelve month low of $36.06 and a twelve month high of $131.59. The business’s 50 day simple moving average is $108.36 and its 200-day simple moving average is $92.80.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data 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. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million during the quarter, compared to analyst estimates of $812.43 million. Sell-side analysts predict that Nextpower will post 3.29 earnings per share for the current year.

Insider Activity at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of Nextpower 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 sale, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. The trade was a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Watkins sold 5,000 shares of the business’s stock in a transaction 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 transaction, the director owned 11,777 shares of the company’s stock, valued at $1,396,398.89. This trade represents a 29.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 104,348 shares of company stock worth $10,876,525. 0.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Nextpower

Several institutional investors have recently bought and sold shares of NXT. Smartleaf Asset Management LLC increased its stake in Nextpower by 107.6% during 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 during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Nextpower by 268.7% in the 4th 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 during the period. Huntington National Bank boosted its holdings in shares of 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 in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of 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 in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Nextpower during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

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.