Nextpower Inc. (NASDAQ:NXT) Stock Has Average Target Price of $134.93

Shares of Nextpower Inc. (NASDAQ:NXT) have been given an average rating of “Moderate Buy” by the twenty-nine analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $134.93.

A number of research firms have recently commented on NXT. Northland Securities set a $138.00 target price on shares of Nextpower in a research note on Thursday, October 29th. Needham & Company LLC decreased their price target on shares of Nextpower from $149.00 to $143.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Cantor Fitzgerald lifted their price objective on Nextpower from $55.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nextpower in a report on Tuesday, October 27th. Finally, Citigroup boosted their price objective on Nextpower from $119.00 to $126.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th.

Nextpower Stock Up 1.5%

Shares of NXT stock traded up $1.43 on Friday, hitting $95.03. The company had a trading volume of 1,999,538 shares, compared to its average volume of 3,263,900. Nextpower has a twelve month low of $75.40 and a twelve month high of $163.13. The firm has a market cap of $14.31 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.97 and a beta of 1.93. The company has a 50-day moving average price of $85.28 and a 200-day moving average price of $106.58.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. Nextpower had a net margin of 15.98% and a return on equity of 25.33%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Equities research analysts expect that Nextpower will post 3.98 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Charles Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total transaction of $359,910.00. Following the transaction, the chief financial officer owned 354,000 shares in the company, valued at approximately $28,312,920. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Blunden sold 3,723 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $88.08, for a total transaction of $327,921.84. Following the transaction, the director directly owned 6,434 shares in the company, valued at approximately $566,706.72. The trade was a 36.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 19,330 shares of company stock valued at $1,674,948 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nextpower

Institutional investors have recently modified their holdings of the company. Flputnam Investment Management Co. increased its holdings in shares of Nextpower by 7.7% in the 3rd quarter. Flputnam Investment Management Co. now owns 60,667 shares of the company’s stock valued at $4,728,000 after acquiring an additional 4,324 shares during the last quarter. FORA Capital LLC purchased a new stake in Nextpower during the third quarter worth approximately $7,407,000. Headlands Technologies LLC purchased a new stake in Nextpower during the third quarter worth approximately $390,000. Empowered Funds LLC purchased a new stake in Nextpower during the third quarter worth approximately $490,000. Finally, Polymer Capital Management US LLC boosted its holdings in Nextpower by 739.6% in the third quarter. Polymer Capital Management US LLC now owns 99,100 shares of the company’s stock valued at $7,723,000 after purchasing an additional 87,297 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Company Profile

Nextpower, Inc., formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project. The company’s offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.