Jefferies Financial Group Issues Positive Forecast for Nextpower (NASDAQ:NXT) Stock Price

Nextpower (NASDAQ:NXT) had its price target boosted by equities researchers at Jefferies Financial Group from $122.00 to $138.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 15.01% from the stock’s previous close.

Several other brokerages have also recently weighed in on NXT. TD Cowen boosted their price objective on shares of Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Bank of America lifted their target price on Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Robert W. Baird set a $126.00 price target on Nextpower in a research report on Wednesday, January 28th. Mizuho set a $81.00 price target on Nextpower in a research note on Friday, January 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average target price of $111.49.

Nextpower Price Performance

NASDAQ NXT traded up $1.90 during trading hours on Tuesday, reaching $119.99. The company’s stock had a trading volume of 218,837 shares, compared to its average volume of 1,991,778. The firm has a fifty day simple moving average of $109.47 and a 200-day simple moving average of $93.87. Nextpower has a 52 week low of $36.06 and a 52 week high of $131.59. The stock has a market cap of $17.82 billion, a P/E ratio of 30.84, a P/E/G ratio of 2.84 and a beta of 2.41.

Nextpower (NASDAQ:NXT) last announced 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. The firm 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%. On average, research analysts expect that Nextpower will post 3.29 earnings per share for the current year.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the firm’s 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 sale, the chief executive officer owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director directly owned 11,777 shares in the company, valued at $1,396,398.89. The trade was a 29.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 104,348 shares of company stock worth $10,876,525 in the last three months. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Nextpower

Institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its holdings in Nextpower by 451.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 9,274 shares of the company’s stock worth $808,000 after purchasing an additional 7,591 shares in the last quarter. Osbon Capital Management LLC purchased a new stake in shares of Nextpower in the fourth quarter valued at about $394,000. Corient Private Wealth LLC boosted its holdings in Nextpower by 35.5% during the fourth 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 purchased a new stake in Nextpower in the 4th quarter valued at about $233,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Nextpower by 10.1% in the 4th quarter. Pacer Advisors Inc. now owns 21,717 shares of the company’s stock worth $1,892,000 after buying an additional 1,997 shares during the last quarter. 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.