Nextpower (NASDAQ:NXT) Director Brandi Elizabeth Thomas Sells 7,415 Shares

Nextpower Inc. (NASDAQ:NXT) Director Brandi Elizabeth Thomas sold 7,415 shares of Nextpower stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total value of $676,618.75. Following the transaction, the director directly owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. This represents a 48.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Nextpower Stock Performance

Nextpower stock opened at $87.86 on Friday. Nextpower Inc. has a fifty-two week low of $63.87 and a fifty-two week high of $163.13. The firm has a market capitalization of $13.33 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.84 and a beta of 1.95. The stock’s fifty day moving average is $107.20 and its two-hundred day moving average is $115.80.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $935.17 million for the quarter, compared to analyst estimates of $935.39 million. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. As a group, sell-side analysts forecast that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Nextpower

Hedge funds have recently modified their holdings of the company. Fundsmith LLP purchased a new position in shares of Nextpower during the 2nd quarter worth about $340,275,000. Norges Bank acquired a new stake in shares of Nextpower in the fourth quarter worth approximately $170,918,000. Amundi grew its holdings in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company’s stock valued at $161,600,000 after purchasing an additional 1,287,071 shares during the period. Janus Henderson Group PLC grew its holdings in Nextpower by 134.3% in the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock valued at $164,488,000 after purchasing an additional 780,958 shares during the period. Finally, Electron Capital Partners LLC increased its position in Nextpower by 2,017.7% during the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock worth $41,909,000 after purchasing an additional 539,668 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft set a $137.00 price objective on shares of Nextpower in a research note on Monday, August 3rd. Zacks Research lowered Nextpower from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Citigroup reduced their target price on Nextpower from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, BNP Paribas Exane increased their target price on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $146.12.

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.