Nextpower Inc. (NASDAQ:NXT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nextpower Inc. (NASDAQ:NXTGet Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-five analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $148.3933.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $168.00 price target on shares of Nextpower in a report on Wednesday, July 1st. Northland Securities lifted their price target on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Citigroup upped their target price on Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $140.00 price objective on shares of Nextpower in a research report on Thursday, May 14th. Finally, TD Cowen lifted their target price on shares of Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th.

Read Our Latest Research Report on NXT

Insider Buying and Selling

In other news, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at $125,480,767.68. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, President Howard Wenger sold 62,670 shares of the business’s 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 completion of the sale, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. The trade was a 12.81% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 168,574 shares of company stock worth $22,559,770. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Nextpower

Hedge funds have recently bought and sold shares of the business. Wedge Capital Management L L P NC lifted its position in shares of Nextpower by 20.0% in the second quarter. Wedge Capital Management L L P NC now owns 600,671 shares of the company’s stock worth $71,564,000 after buying an additional 100,186 shares during the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Nextpower by 26.5% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 50,098 shares of the company’s stock worth $5,969,000 after purchasing an additional 10,500 shares during the last quarter. Franklin Street Advisors Inc. NC bought a new stake in Nextpower during the second quarter worth approximately $684,000. Polianta Ltd acquired a new position in Nextpower during the second quarter valued at approximately $1,763,000. Finally, MRA Advisory Group bought a new position in shares of Nextpower in the second quarter valued at approximately $715,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Key Nextpower News

Here are the key news stories impacting Nextpower this week:

Nextpower Price Performance

Shares of NASDAQ NXT opened at $111.50 on Monday. The stock’s fifty day simple moving average is $125.73 and its 200 day simple moving average is $115.28. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 2.20 and a beta of 1.86. Nextpower has a 52-week low of $52.61 and a 52-week high of $163.13.

Nextpower (NASDAQ:NXTGet Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, analysts anticipate that Nextpower will post 3.77 earnings per share for the current year.

Nextpower Company Profile

(Get Free Report)

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 Stories

Analyst Recommendations for Nextpower (NASDAQ:NXT)

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.