Nextpower (NASDAQ:NXT) Director Julia Blunden Sells 3,723 Shares

Nextpower Inc. (NASDAQ:NXT) Director Julia Blunden sold 3,723 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $88.08, for a total value of $327,921.84. Following the transaction, the director owned 6,434 shares in the company, valued at $566,706.72. This represents a 36.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Julia Blunden also recently made the following trade(s):

• On Monday, August 24th, Julia Blunden sold 3,692 shares of Nextpower stock. The shares were sold at an average price of $84.10, for a total value of $310,497.20.
• On Wednesday, August 5th, Julia Blunden sold 2,289 shares of Nextpower stock. The stock was sold at an average price of $97.22, for a total value of $222,536.58.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $84.72 on Tuesday. The business’s 50 day moving average price is $105.66 and its 200-day moving average price is $115.34. Nextpower Inc. has a 1 year low of $64.30 and a 1 year high of $163.13. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.73 and a beta of 1.95.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.20 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%. On average, sell-side analysts expect that Nextpower Inc. will post 3.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Loop Capital set a $135.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Barclays increased their target price on Nextpower from $142.00 to $147.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Mizuho lowered their price target on Nextpower from $142.00 to $111.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $168.00 price target on shares of Nextpower in a research report on Wednesday, July 1st. Finally, BNP Paribas Exane increased their price objective on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.12.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares during the last quarter. Signature Equity Partners LLC grew its holdings in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. Huntington National Bank increased its stake in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after acquiring an additional 317 shares during the last quarter. Continuum Advisory LLC purchased a new position in shares of Nextpower during the 2nd quarter worth $37,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after acquiring an additional 414 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

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.