Nextpower (NASDAQ:NXT) Director Julia Blunden Sells 3,692 Shares

Nextpower Inc. (NASDAQ:NXT) Director Julia Blunden sold 3,692 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 2,742 shares in the company, valued at approximately $230,602.20. This represents a 57.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, August 21st, Julia Blunden sold 3,723 shares of Nextpower stock. The stock was sold at an average price of $88.08, for a total value of $327,921.84.
• 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 transaction of $222,536.58.

Nextpower Price Performance

Shares of Nextpower stock opened at $84.72 on Tuesday. Nextpower Inc. has a 52-week low of $64.30 and a 52-week high of $163.13. The firm has a market capitalization of $12.85 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.73 and a beta of 1.95. The company’s fifty day moving average price is $105.66 and its two-hundred day moving average price is $115.34.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. Analysts predict that Nextpower Inc. will post 3.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jupiter Asset Management Ltd. grew its position in Nextpower by 0.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after acquiring an additional 86 shares during the last quarter. Root Financial Partners LLC boosted its stake in Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after purchasing an additional 103 shares in the last quarter. Signature Equity Partners LLC boosted its stake in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Nextpower by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after purchasing an additional 119 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Nextpower by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock worth $114,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NXT shares. Truist Financial upped their price objective on Nextpower from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Mizuho decreased 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. Freedom Capital upgraded Nextpower from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 31st. UBS Group reissued a “buy” rating and set a $160.00 price objective on shares of Nextpower in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Nextpower from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $146.12.

About Nextpower

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.