Nextpower (NASDAQ:NXT) Director William Watkins Sells 5,000 Shares

Nextpower Inc. (NASDAQ:NXT) Director William 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 transaction of $592,850.00. Following the sale, the director directly owned 11,777 shares of the company’s stock, valued at approximately $1,396,398.89. This trade represents a 29.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Nextpower Price Performance

Shares of NXT stock traded down $1.49 on Monday, hitting $115.60. 2,034,295 shares of the company’s stock were exchanged, compared to its average volume of 2,172,687. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59. The company has a 50 day moving average of $94.42 and a 200 day moving average of $82.65. The stock has a market cap of $17.15 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 3.45 and a beta of 2.34.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $909.35 million for the quarter, compared to the consensus estimate of $812.43 million. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. Sell-side analysts predict that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its position in shares of Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after acquiring an additional 126 shares in the last quarter. Allworth Financial LP grew its holdings in Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after buying an additional 141 shares in the last quarter. Natural Investments LLC boosted its position in shares of Nextpower by 0.9% in the third quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after acquiring an additional 155 shares during the period. Fifth Third Bancorp grew its stake in Nextpower by 15.9% during the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after acquiring an additional 173 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after acquiring an additional 182 shares during the period. 67.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NXT shares. UBS Group raised their price objective on shares of Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Robert W. Baird set a $126.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. KeyCorp raised Nextpower from a “sector weight” rating to an “overweight” rating and set a $142.00 price objective for the company in a research note on Wednesday, January 28th. Guggenheim set a $74.00 target price on shares of Nextpower in a report on Wednesday, October 22nd. Finally, Susquehanna raised their price objective on Nextpower from $76.00 to $100.00 and gave the company a “positive” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.32.

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.