Daniel Shugar Sells 39,892 Shares of Nextpower (NASDAQ:NXT) Stock

Nextpower Inc. (NASDAQ:NXT) CEO Daniel Shugar sold 39,892 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $101.04, for a total value of $4,030,687.68. Following the transaction, the chief executive officer directly owned 584,990 shares of the company’s stock, valued at $59,107,389.60. The trade was a 6.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Nextpower Stock Performance

Nextpower stock traded down $1.97 during mid-day trading on Friday, hitting $101.43. 1,340,087 shares of the company traded hands, compared to its average volume of 2,037,631. Nextpower Inc. has a one year low of $36.06 and a one year high of $131.59. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 3.06 and a beta of 2.41. The stock has a fifty day moving average price of $106.30 and a 200-day moving average price of $91.49.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The company had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. Sell-side analysts predict that Nextpower Inc. will post 3.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. lifted its holdings in shares of Nextpower by 0.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after purchasing an additional 86 shares in the last quarter. Signaturefd LLC raised its position in Nextpower by 4.1% in the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after buying an additional 126 shares during the last quarter. Allworth Financial LP lifted its stake in Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after acquiring an additional 141 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Nextpower by 12.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $114,000 after acquiring an additional 143 shares during the last quarter. Finally, Natural Investments LLC boosted its holdings in shares of Nextpower by 0.9% during the 3rd quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NXT. Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a report on Monday, December 29th. Roth Mkm reiterated a “buy” rating and issued a $130.00 target price on shares of Nextpower in a research report on Wednesday, January 28th. Bank of America upped their price target on shares of Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Mizuho set a $81.00 price objective on Nextpower in a research note on Friday, January 23rd. Finally, Robert W. Baird set a $126.00 target price on Nextpower in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.32.

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.