Nextpower (NASDAQ:NXT) Given New $125.00 Price Target at Cantor Fitzgerald

Nextpower (NASDAQ:NXT) had its price target increased by Cantor Fitzgerald from $55.00 to $125.00 in a report published on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets reduced their price target on Nextpower from $132.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. Citigroup reissued an “outperform” rating on shares of Nextpower in a report on Thursday, October 29th. Guggenheim upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Wednesday, July 15th. Mizuho reduced their price objective on shares of Nextpower from $111.00 to $101.00 and set a “neutral” rating for the company in a report on Thursday, October 15th. Finally, Wells Fargo & Company decreased their target price on shares of Nextpower from $151.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.19.

Nextpower Trading Down 6.7%

NXT opened at $99.58 on Thursday. The business’s 50 day moving average is $83.42 and its 200-day moving average is $106.68. The stock has a market cap of $15.11 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.23 and a beta of 1.93. Nextpower has a twelve month low of $75.40 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. Nextpower had a return on equity of 25.33% and a net margin of 15.98%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. As a group, analysts forecast that Nextpower will post 4.01 EPS for the current year.

Insider Transactions at Nextpower

In other Nextpower news, President Howard Wenger sold 11,176 shares of the company’s 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 completion of the sale, the president directly owned 419,868 shares in the company, valued at $43,993,769.04. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Julia Blunden sold 3,692 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.10, for a total value of $310,497.20. Following the transaction, the director directly owned 2,742 shares of the company’s stock, valued at approximately $230,602.20. The trade was a 57.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 98,142 shares of company stock valued at $9,817,212 over the last three months. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NXT. Tidal Investments LLC grew 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 acquiring an additional 17,221 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Nextpower during the second quarter worth $1,792,000. Reynders McVeigh Capital Management LLC raised its position in shares of Nextpower by 15.0% during the second 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. Perpetual Ltd lifted its holdings in shares of Nextpower by 16.2% during the third quarter. Perpetual Ltd now owns 194,578 shares of the company’s stock valued at $15,163,000 after purchasing an additional 27,098 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd lifted its holdings in shares of Nextpower by 63.5% during the first quarter. Lombard Odier Asset Management Europe Ltd now owns 127,421 shares of the company’s stock valued at $15,361,000 after purchasing an additional 49,505 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Company Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company’s product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.