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

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 11,176 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $104.78, for a total value of $1,171,021.28. Following the transaction, the president owned 419,868 shares in the company, valued at $43,993,769.04. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 shares were 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 stock was sold at an average price of $127.32, for a total transaction of $2,048,578.80.

Nextpower Trading Down 1.2%

NXT opened at $103.67 on Thursday. Nextpower Inc. has a 1-year low of $52.61 and a 1-year high of $163.13. The company has a market cap of $15.73 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.95. The company has a fifty day moving average price of $110.84 and a two-hundred day moving average price of $116.50.

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 analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $935.17 million for the quarter, compared to analysts’ expectations of $935.39 million. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. On average, research analysts forecast that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Nextpower

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Signature Equity Partners LLC lifted its position in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Nextpower by 107.6% during the 4th 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 period. Whittier Trust Co. of Nevada Inc. increased its holdings in Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares during the period. Huntington National Bank raised its position in Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NXT shares. Robert W. Baird raised their target price on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. The Goldman Sachs Group reissued a “buy” rating and set a $168.00 target price on shares of Nextpower in a research report on Wednesday, July 1st. BNP Paribas Exane lifted their price objective on Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. UBS Group reiterated a “buy” rating and issued a $160.00 price objective on shares of Nextpower in a research note on Monday, August 3rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $149.00 price objective on shares of Nextpower in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.12.

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.