Nextpower Inc. (NASDAQ:NXT – Get Free Report) President Howard Wenger sold 62,670 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the transaction, the president owned 426,467 shares in the company, valued at $55,547,326.75. The trade was a 12.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Howard Wenger also recently made the following trade(s):
- On Friday, May 22nd, Howard Wenger sold 9,051 shares of Nextpower stock. The shares were sold at an average price of $121.02, for a total transaction of $1,095,352.02.
- On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The shares were sold at an average price of $127.32, for a total transaction of $2,048,578.80.
Nextpower Stock Performance
Shares of NXT stock opened at $135.78 on Thursday. The firm has a market cap of $20.16 billion, a P/E ratio of 35.45, a P/E/G ratio of 3.23 and a beta of 1.60. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $156.78. The business’s 50 day moving average price is $120.76 and its 200-day moving average price is $107.88.
Institutional Trading of Nextpower
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jupiter Asset Management Ltd. grew its position in shares of Nextpower by 0.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after buying an additional 86 shares during the period. Root Financial Partners LLC grew its position in shares of Nextpower by 30.0% in the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after buying an additional 103 shares during the period. Signature Equity Partners LLC grew its position in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Nextpower by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after purchasing an additional 119 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Nextpower by 4.1% in the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after purchasing an additional 126 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on NXT. Wall Street Zen cut shares of Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Loop Capital set a $135.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. Barclays raised their target price on shares of Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Glj Research reissued a “buy” rating and issued a $147.33 target price on shares of Nextpower in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.54.
Read Our Latest Research Report on NXT
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.
Featured Articles
- Five stocks we like better than Nextpower
- Abercrombie Rallies as Strong Q1 Earnings Extend Winning Streak
- TeraWulf Bets on Power Infrastructure to Lead AI Build-Out
- Amazon’s Alexa for Shopping Strengthens an Already Strong Bull Case
- Keysight: The AI and Defense Stock Seeing Big Price Target Boosts
Receive News & Ratings for Nextpower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextpower and related companies with MarketBeat.com's FREE daily email newsletter.
