Nextpower Inc. (NASDAQ:NXT) Given Consensus Rating of “Moderate Buy” by Brokerages

Nextpower Inc. (NASDAQ:NXT) has received an average rating of “Moderate Buy” from the twenty-seven brokerages that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $146.12.

A number of brokerages recently weighed in on NXT. BNP Paribas Exane lifted their price objective on shares of Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $168.00 target price on shares of Nextpower in a research report on Wednesday, July 1st. Citigroup decreased their price target on shares of Nextpower from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Barclays boosted their price target on Nextpower from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Truist Financial raised their price objective on Nextpower from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 31st.

Insider Buying and Selling at Nextpower

In other Nextpower news, President Howard Wenger sold 11,176 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total transaction of $1,171,021.28. Following the sale, the president owned 419,868 shares of the company’s stock, valued at approximately $43,993,769.04. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Blunden sold 3,692 shares of Nextpower stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.10, for a total value of $310,497.20. Following the completion of the transaction, the director owned 2,742 shares in the company, valued at $230,602.20. This represents a 57.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,931 shares of company stock valued at $9,679,838 in the last ninety days. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Nextpower

A number of hedge funds have recently made changes to their positions in the stock. Jupiter Asset Management Ltd. boosted its position in Nextpower by 0.3% during the fourth 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 in the last quarter. Root Financial Partners LLC raised its holdings in Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after purchasing an additional 103 shares in the last quarter. Signature Equity Partners LLC lifted its position in shares of Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Nextpower by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after buying an additional 119 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Nextpower by 12.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $114,000 after buying an additional 143 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextpower Price Performance

Shares of NASDAQ NXT opened at $82.00 on Tuesday. The company has a market cap of $12.44 billion, a P/E ratio of 21.24, a PEG ratio of 1.72 and a beta of 1.95. Nextpower has a 1 year low of $64.30 and a 1 year high of $163.13. The firm has a 50-day simple moving average of $101.65 and a two-hundred day simple moving average of $114.19.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. As a group, equities research analysts expect that Nextpower will post 3.7 EPS for the current year.

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.