Howard Wenger Sells 11,176 Shares of Nextpower (NASDAQ:NXT) Stock

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 11,176 shares of Nextpower stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total value of $1,171,021.28. Following the completion of the transaction, the president directly owned 419,868 shares in the company, valued at $43,993,769.04. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Howard Wenger also recently made the following trade(s):

• On Tuesday, May 26th, Howard Wenger sold 62,670 shares of Nextpower stock. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50.
• On Friday, May 22nd, Howard Wenger sold 9,051 shares of Nextpower stock. The shares were sold at an average price of $121.02, for a total transaction of $1,095,352.02.
• On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The shares were sold at an average price of $127.32, for a total transaction of $2,048,578.80.

Nextpower Stock Up 0.8%

NXT opened at $104.55 on Friday. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The company has a 50 day moving average of $109.93 and a two-hundred day moving average of $116.50. The company has a market cap of $15.86 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.08 and a beta of 1.95.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. The company had revenue of $935.17 million during 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%. Research analysts anticipate that Nextpower Inc. will post 3.73 earnings per share for the current year.

Analyst Ratings Changes

NXT has been the topic of several research reports. Loop Capital set a $135.00 price objective on Nextpower in a research report on Wednesday, May 13th. Truist Financial upped their target price on Nextpower from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $131.00 target price on shares of Nextpower in a research note on Friday, July 31st. Citigroup dropped their target price on Nextpower from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Freedom Capital raised Nextpower from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.12.

Hedge Funds Weigh In On Nextpower

Institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC acquired a new stake in shares of Nextpower during the second quarter valued at about $482,000. Trust Co. of Vermont purchased a new stake in shares of Nextpower during the second quarter worth about $63,000. Wedge Capital Management L L P NC lifted its stake in shares of Nextpower by 20.0% in the second quarter. Wedge Capital Management L L P NC now owns 600,671 shares of the company’s stock worth $71,564,000 after acquiring an additional 100,186 shares in the last quarter. E. Ohman J or Asset Management AB boosted its holdings in Nextpower by 26.5% in the second quarter. E. Ohman J or Asset Management AB now owns 50,098 shares of the company’s stock valued at $5,969,000 after purchasing an additional 10,500 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC purchased a new position in Nextpower in the second quarter valued at about $684,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

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.