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

Nextpower Inc. (NASDAQ:NXT) Director Julia Blunden sold 3,723 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $88.08, for a total transaction of $327,921.84. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink.

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

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

Nextpower Stock Up 0.1%

Shares of NXT opened at $84.81 on Wednesday. The stock has a market capitalization of $12.87 billion, a P/E ratio of 21.97, a PEG ratio of 1.70 and a beta of 1.95. The firm has a fifty day simple moving average of $104.85 and a two-hundred day simple moving average of $115.12. Nextpower Inc. has a twelve month low of $64.30 and a twelve month high of $163.13.

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, beating analysts’ consensus estimates of $1.05 by $0.15. The firm 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%. Sell-side analysts expect that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Signature Equity Partners LLC boosted its position in shares of Nextpower by 76.4% during 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Continuum Advisory LLC purchased a new position in Nextpower during the second quarter valued at $37,000. Huntington National Bank lifted its position in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after buying an additional 317 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Nextpower during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NXT shares. Wells Fargo & Company boosted their price target on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 29th. BMO Capital Markets upgraded Nextpower from a “hold” rating to an “outperform” rating and set a $132.00 price objective for the company in a report on Friday, July 31st. Loop Capital set a $135.00 price objective on Nextpower in a research report on Wednesday, May 13th. Roth Capital reissued a “buy” rating and set a $175.00 target price on shares of Nextpower in a research note on Tuesday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $149.00 target price on shares of Nextpower in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.