Nextpower Inc. (NASDAQ:NXT) Stock Has Consensus Target Price of $140.85

Shares of Nextpower Inc. (NASDAQ:NXT) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $139.77.

A number of equities analysts have weighed in on NXT shares. Royal Bank Of Canada cut their price target on shares of Nextpower from $149.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Susquehanna lowered their price objective on shares of Nextpower from $157.00 to $150.00 and set a “positive” rating for the company in a research note on Wednesday, October 14th. Piper Sandler lowered their price objective on shares of Nextpower from $116.00 to $110.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Barclays dropped their price objective on Nextpower from $147.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Finally, Jefferies Financial Group set a $115.00 target price on Nextpower in a research report on Friday, October 16th.

Insider Activity

In other Nextpower news, Director Brandi Thomas sold 7,415 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total transaction of $676,618.75. Following the completion of the sale, the director directly owned 7,914 shares in the company, valued at $722,152.50. This represents a 48.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Howard Wenger sold 11,176 shares of the business’s stock in a transaction dated 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 sale, the president owned 419,868 shares of the company’s stock, valued at $43,993,769.04. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,431 shares of company stock valued at $10,039,748 in the last 90 days. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nextpower

Hedge funds have recently made changes to their positions in the business. Robeco Schweiz AG increased its holdings in Nextpower by 98.8% in the 3rd quarter. Robeco Schweiz AG now owns 1,721,087 shares of the company’s stock valued at $134,124,000 after purchasing an additional 855,460 shares in the last quarter. Sowell Financial Services LLC raised its position in Nextpower by 92.9% in the third quarter. Sowell Financial Services LLC now owns 6,776 shares of the company’s stock valued at $528,000 after purchasing an additional 3,263 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Nextpower by 2.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 145,981 shares of the company’s stock worth $11,376,000 after purchasing an additional 4,009 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Nextpower by 31.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 112,787 shares of the company’s stock worth $8,789,000 after purchasing an additional 26,819 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Nextpower by 269.8% in the third quarter. IFP Advisors Inc now owns 18,593 shares of the company’s stock worth $1,449,000 after buying an additional 13,565 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextpower Price Performance

NASDAQ NXT opened at $78.89 on Wednesday. The company has a market cap of $11.97 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.87 and a beta of 1.94. Nextpower has a 12 month low of $75.40 and a 12 month high of $163.13. The company has a 50-day moving average of $83.56 and a 200-day moving average of $105.17.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The business had revenue of $935.17 million for the quarter, compared to analysts’ expectations of $935.39 million. As a group, equities research analysts anticipate that Nextpower will post 3.80 EPS for the current year.

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.