Nextpower (NASDAQ:NXT – Get Free Report) had its price objective increased by equities researchers at Citigroup from $119.00 to $126.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup‘s price objective would suggest a potential upside of 27.41% from the stock’s previous close.
Several other research analysts have also commented on NXT. Robert W. Baird decreased their target price on Nextpower from $156.00 to $116.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Northland Securities set a $138.00 target price on shares of Nextpower in a research note on Thursday, October 29th. Guggenheim upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, July 15th. Susquehanna decreased their target price on Nextpower from $150.00 to $145.00 and set a “positive” rating on the stock in a report on Thursday, October 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Nextpower in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.93.
Get Our Latest Report on Nextpower
Nextpower Stock Down 5.7%
Nextpower stock traded down $6.00 during mid-day trading on Tuesday, reaching $98.89. 1,397,247 shares of the company’s stock were exchanged, compared to its average volume of 2,462,310. The company has a market cap of $15.01 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.23 and a beta of 1.93. The company has a fifty day moving average of $84.12 and a 200-day moving average of $106.75. Nextpower has a twelve month low of $75.40 and a twelve month high of $163.13.
Nextpower (NASDAQ:NXT – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. Nextpower had a net margin of 15.98% and a return on equity of 25.33%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Equities research analysts expect that Nextpower will post 4.01 earnings per share for the current fiscal year.
Insider Activity
In other Nextpower news, Director Brandi Thomas sold 7,415 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total value of $676,618.75. Following the completion of the sale, the director owned 7,914 shares in the company, valued at $722,152.50. This trade 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 link. Also, CFO Charles Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total transaction of $359,910.00. Following the transaction, the chief financial officer directly owned 354,000 shares in the company, valued at $28,312,920. This represents a 1.26% decrease in their ownership of the stock. 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 a total of 19,330 shares of company stock worth $1,674,948 over the last three months. Corporate insiders own 0.84% of the company’s stock.
Hedge Funds Weigh In On Nextpower
A number of hedge funds have recently added to or reduced their stakes in NXT. Voya Investment Management LLC boosted its stake in shares of Nextpower by 9.9% in the 3rd quarter. Voya Investment Management LLC now owns 251,166 shares of the company’s stock worth $19,573,000 after buying an additional 22,578 shares during the last quarter. Goodman Financial Corp boosted its holdings in shares of Nextpower by 7.2% in the 3rd quarter. Goodman Financial Corp now owns 225,745 shares of the company’s stock worth $17,592,000 after buying an additional 15,116 shares during the last quarter. Impax Asset Management Group plc grew its position in Nextpower by 108.3% during the third quarter. Impax Asset Management Group plc now owns 1,050,321 shares of the company’s stock valued at $81,852,000 after buying an additional 546,001 shares during the period. Figure 8 Investment Strategies LLC grew its position in Nextpower by 0.9% during the third quarter. Figure 8 Investment Strategies LLC now owns 21,583 shares of the company’s stock valued at $1,682,000 after buying an additional 196 shares during the period. Finally, Silver Oak Securities Incorporated purchased a new stake in Nextpower during the third quarter worth about $622,000. Institutional investors and hedge funds own 67.41% of the company’s stock.
About Nextpower
Nextpower, Inc., formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project. The company’s offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.
Recommended Stories
- Five stocks we like better than Nextpower
- A $4 Billion Jolt: NRG Energy Powers Data Center Ambitions
- D-Wave Quantum Has Long-Term Potential, But Is Now the Time to Buy?
- 5 AI Heavyweights That Look Too Cheap to Ignore After the Sell-Off
- Bonds Are Paying 5% Again, and the Repricing Has Reached Every Corner of the Market
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.
