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

Shares of Nextpower Inc. (NASDAQ:NXT) have received an average recommendation of “Moderate Buy” from the twenty-six research firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $150.0976.

NXT has been the subject of several analyst reports. Jefferies Financial Group set a $153.00 target price on shares of Nextpower in a research note on Friday, June 26th. Robert W. Baird upped their price target on shares of Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Mizuho increased their price target on shares of Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Royal Bank Of Canada lifted their price objective on shares of Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Wolfe Research restated an “outperform” rating and set a $160.00 price objective on shares of Nextpower in a research note on Friday, May 29th.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the company’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 value of $3,513,093.44. Following the sale, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, President Howard Wenger sold 62,670 shares of the firm’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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 a total of 168,574 shares of company stock valued at $22,559,770 in the last three months. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Nextpower in the 4th quarter valued at $170,918,000. Amundi lifted its holdings in shares of Nextpower by 156.1% during the third quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after buying an additional 1,287,071 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Nextpower by 134.3% during the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock worth $164,488,000 after buying an additional 780,958 shares in the last quarter. Electron Capital Partners LLC boosted its position in shares of Nextpower by 2,017.7% in the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock valued at $41,909,000 after acquiring an additional 539,668 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Nextpower by 142.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company’s stock valued at $73,879,000 after acquiring an additional 498,110 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $103.10 on Monday. The stock has a 50 day moving average price of $123.89 and a 200 day moving average price of $115.77. Nextpower has a 52 week low of $52.61 and a 52 week high of $163.13. The stock has a market capitalization of $15.49 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last posted 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. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million during 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 forecast that Nextpower will post 3.75 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.