Nextpower (NASDAQ:NXT) Trading Down 8.7% – Should You Sell?

Nextpower Inc. (NASDAQ:NXT)’s stock price traded down 8.7% during trading on Monday . The company traded as low as $144.53 and last traded at $142.77. 309,113 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,074,874 shares. The stock had previously closed at $156.40.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Mizuho lifted their price objective on Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. TD Cowen lifted their price objective on Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Roth Mkm reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Barclays lifted their price objective on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, UBS Group reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Nextpower in a research report on Friday. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.18.

Nextpower Stock Down 7.8%

The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 4.05 and a beta of 1.73. The stock has a fifty day moving average of $121.89 and a two-hundred day moving average of $108.45.

Nextpower (NASDAQ:NXT) last issued its 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 for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities research analysts anticipate that Nextpower Inc. will post 3.58 EPS for the current fiscal year.

Insider Transactions at Nextpower

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the business’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 $437,570.56. Following the transaction, the insider owned 246,130 shares in the company, valued at $33,158,633.60. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 dated Tuesday, May 26th. The stock was 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. 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 a total of 240,995 shares of company stock worth $28,661,778 over the last ninety days. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Signature Equity Partners LLC lifted its stake in shares of Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake 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 purchasing an additional 223 shares in the last quarter. Huntington National Bank lifted its stake 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 purchasing an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its stake 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 purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

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.