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

Shares of Nextpower Inc. (NASDAQ:NXT) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $146.12.

A number of brokerages recently issued reports on NXT. Glj Research restated a “buy” rating and set a $149.00 price target on shares of Nextpower in a report on Wednesday, August 5th. Citigroup dropped their price objective on Nextpower from $145.00 to $132.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Guggenheim upgraded Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday, July 15th. JPMorgan Chase & Co. reduced their target price on Nextpower from $179.00 to $152.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, BMO Capital Markets upgraded Nextpower from a “hold” rating to an “outperform” rating and set a $132.00 target price for the company in a report on Friday, July 31st.

Nextpower Stock Up 1.9%

Shares of Nextpower stock opened at $104.88 on Friday. The firm has a market cap of $15.91 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.06 and a beta of 1.95. Nextpower has a 12-month low of $52.61 and a 12-month high of $163.13. The company’s fifty day simple moving average is $111.70 and its two-hundred day simple moving average is $116.51.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $935.17 million during the quarter, compared to the consensus estimate 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 expect that Nextpower will post 3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Nextpower

In other news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. The trade was a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president owned 426,467 shares in the company, valued at $55,547,326.75. This represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 238,499 shares of company stock worth $29,753,549. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Nextpower

Several large investors have recently bought and sold shares of the company. Great Lakes Advisors LLC bought a new position in shares of Nextpower in the 2nd quarter worth approximately $482,000. Trust Co. of Vermont purchased a new position in shares of Nextpower in the 2nd quarter valued at approximately $63,000. Wedge Capital Management L L P NC boosted its position in shares of Nextpower by 20.0% during the second quarter. Wedge Capital Management L L P NC now owns 600,671 shares of the company’s stock valued at $71,564,000 after purchasing an additional 100,186 shares in the last quarter. E. Ohman J or Asset Management AB boosted its position in shares of Nextpower by 26.5% during 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 in the last quarter. Finally, Franklin Street Advisors Inc. NC purchased a new stake in Nextpower in the second quarter worth $684,000. 67.41% of the stock is owned by institutional investors.

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.