Nextpower Inc. (NASDAQ:NXT – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $147.7683.
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 20th. Wolfe Research restated an “outperform” rating and issued a $160.00 target price on shares of Nextpower in a research note on Friday, May 29th. BMO Capital Markets lifted their price target on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Roth Mkm reiterated a “buy” rating and set a $155.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Finally, Northland Securities increased their price objective on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, May 29th.
Nextpower Stock Up 2.5%
Nextpower (NASDAQ:NXT – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts anticipate that Nextpower will post 3.69 earnings per share for the current fiscal year.
Insider Transactions at Nextpower
In related news, President Howard Wenger sold 62,670 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president owned 426,467 shares in the company, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the transaction, the insider directly owned 246,130 shares of the company’s stock, valued at $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 168,574 shares of company stock valued at $22,559,770 over the last quarter. Company insiders own 0.56% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after purchasing an additional 71,842 shares during the period. M&T Bank Corp acquired a new position in shares of Nextpower in the 2nd quarter valued at about $223,000. EverSource Wealth Advisors LLC boosted its stake in shares of Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after buying an additional 724 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after buying an additional 11,239 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Nextpower by 36.5% during the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after acquiring an additional 59,573 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.
Nextpower Company Profile
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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