Nextpower Inc. (NASDAQ:NXT – Get Free Report) President Howard Wenger sold 11,176 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total value of $1,171,021.28. Following the transaction, the president directly owned 419,868 shares in the company, valued at $43,993,769.04. This represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Howard Wenger also recently made the following trade(s):
- On Tuesday, May 26th, Howard Wenger sold 62,670 shares of Nextpower stock. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50.
- On Friday, May 22nd, Howard Wenger sold 9,051 shares of Nextpower stock. The stock was sold at an average price of $121.02, for a total value 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 value of $2,048,578.80.
Nextpower Stock Performance
NASDAQ NXT traded down $1.21 during trading on Wednesday, hitting $103.67. 2,052,466 shares of the company’s stock traded hands, compared to its average volume of 2,477,895. The stock has a market capitalization of $15.73 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.06 and a beta of 1.95. Nextpower Inc. has a 12-month low of $52.61 and a 12-month high of $163.13. The business has a 50 day moving average of $111.70 and a 200-day moving average of $116.51.
Hedge Funds Weigh In On Nextpower
Several institutional investors have recently modified their holdings of NXT. Smartleaf Asset Management LLC lifted its position in Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 223 shares during the last quarter. Signature Equity Partners LLC raised its stake in shares of Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after acquiring an additional 317 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after acquiring an additional 182 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Mizuho cut their price target on Nextpower from $142.00 to $111.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Zacks Research upgraded Nextpower from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Needham & Company LLC reissued a “buy” rating and set a $149.00 price objective on shares of Nextpower in a report on Friday, May 29th. Guggenheim upgraded Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered Nextpower from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nextpower currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.12.
Check Out 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.
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