Nextpower Inc. (NASDAQ:NXT) Receives Average Recommendation of “Moderate Buy” from Analysts

Nextpower Inc. (NASDAQ:NXT) has been given a consensus recommendation of “Moderate Buy” by the twenty-five ratings firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $147.7683.

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Barclays raised their target price on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $140.00 target price on shares of Nextpower in a report on Thursday, May 14th. Jefferies Financial Group raised their target price on shares of Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada raised their target price on shares of Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a report on Friday, May 29th.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through 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. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the sale, the insider owned 246,130 shares in the company, valued at approximately $33,158,633.60. The trade was 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. Over the last quarter, insiders sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Nextpower

Hedge funds have recently made changes to their positions in the stock. Signature Equity Partners LLC boosted its stake in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Nextpower by 268.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank boosted its stake in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Stock Performance

NASDAQ:NXT opened at $116.67 on Thursday. Nextpower has a 52 week low of $51.69 and a 52 week high of $163.13. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 2.86 and a beta of 1.73. The firm’s 50-day simple moving average is $126.20 and its 200 day simple moving average is $113.30.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts anticipate that Nextpower will post 3.69 EPS for the current year.

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.