Nextpower Inc. (NASDAQ:NXT) Stock Has Average Price Target of $143.42 According to Analysts

Nextpower Inc. (NASDAQ:NXT) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $143.19.

NXT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $137.00 price objective on shares of Nextpower in a research report on Monday, August 3rd. Royal Bank Of Canada reduced their target price on shares of Nextpower from $149.00 to $147.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Nextpower from $179.00 to $152.00 and set an “overweight” rating for the company in a report on Friday, July 31st. TD Cowen reduced their price objective on Nextpower from $135.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Nextpower in a research note on Tuesday, July 28th.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel Shugar sold 67,636 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $103.07, for a total transaction of $6,971,242.52. Following the completion of the sale, the chief executive officer directly owned 871,131 shares of the company’s stock, valued at approximately $89,787,472.17. This trade represents a 7.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brandi Thomas sold 7,415 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total value of $676,618.75. Following the transaction, the director owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. The trade was a 48.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 100,431 shares of company stock valued at $10,039,748. 0.84% of the stock is owned by company insiders.

Institutional Trading of Nextpower

A number of large investors have recently made changes to their positions in NXT. Private Client Services LLC increased its position in shares of Nextpower by 7.7% during the third quarter. Private Client Services LLC now owns 8,810 shares of the company’s stock worth $687,000 after acquiring an additional 630 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Nextpower by 22.8% in the second quarter. QRG Capital Management Inc. now owns 5,515 shares of the company’s stock valued at $657,000 after purchasing an additional 1,023 shares during the period. Reynders McVeigh Capital Management LLC increased its holdings in Nextpower by 15.0% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 157,897 shares of the company’s stock worth $18,812,000 after purchasing an additional 20,547 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Nextpower by 20.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,076 shares of the company’s stock worth $366,000 after purchasing an additional 527 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Nextpower by 20.2% in the 2nd quarter. Tidal Investments LLC now owns 102,483 shares of the company’s stock worth $12,210,000 after buying an additional 17,221 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Trading Up 6.1%

Shares of Nextpower stock opened at $84.30 on Friday. The firm has a market cap of $12.79 billion, a PE ratio of 21.84, a PEG ratio of 1.58 and a beta of 1.94. The stock has a 50 day moving average of $88.39 and a 200 day moving average of $108.92. Nextpower has a 12 month low of $74.91 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT) last posted its earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. Nextpower had a return on equity of 26.29% and a net margin of 16.36%.The firm had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. As a group, equities research analysts forecast that Nextpower will post 3.76 earnings per share for the current fiscal year.

About Nextpower

Nextracker Inc (NASDAQ:NXT) is a renewable energy technology company that designs and supplies intelligent solar tracking systems for utility-scale and large distributed-generation photovoltaic projects. Its systems help solar panels follow the sun throughout the day, improving energy production and supporting the development of large solar power facilities.

The company’s product portfolio includes solar tracker hardware, structural components, controls, and software designed to optimize project performance.