Insider Selling: Nextpower (NASDAQ:NXT) Insider Sells 3,248 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

Nextpower Trading Up 3.5%

NASDAQ NXT traded up $4.57 during trading hours on Wednesday, reaching $135.78. The company had a trading volume of 1,834,281 shares, compared to its average volume of 2,414,029. The stock has a 50-day moving average of $120.76 and a 200 day moving average of $107.88. Nextpower Inc. has a 1-year low of $51.69 and a 1-year high of $156.78. The stock has a market capitalization of $20.16 billion, a P/E ratio of 35.45, a price-to-earnings-growth ratio of 3.23 and a beta of 1.60.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating 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 company had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, sell-side analysts predict that Nextpower Inc. will post 3.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NXT. Loop Capital set a $135.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Robert W. Baird upped their target price on shares of Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on shares of Nextpower from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Mizuho upped their price target on Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, The Goldman Sachs Group set a $140.00 price target on Nextpower and gave the company a “buy” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.54.

Hedge Funds Weigh In On Nextpower

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signature Equity Partners LLC boosted its holdings in Nextpower by 76.4% in the first 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 grew its position in shares of Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after acquiring an additional 223 shares during the last quarter. Huntington National Bank grew its position in shares of Nextpower by 480.3% during the fourth 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. grew its position in shares of Nextpower by 76.5% during the fourth 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 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.