Key Points
- Director sale: William Watkins sold 5,000 Nextpower (NXT) shares on Jan. 30 at an average of $118.57 for $592,850, leaving him with 11,777 shares — about a 29.8% reduction in his holdings.
- Earnings beat: Nextpower topped estimates with Q EPS of $1.10 versus $0.93 expected and revenue of $909.35M versus $812.43M, with strong profitability metrics (ROE 32.01%, net margin 16.43%).
- Market and analyst view: The stock trades near $115.60 (12‑month range $36.06–$131.59) with a $17.15B market cap and a consensus "Moderate Buy" rating (avg. price target $108.32) after multiple firms raised targets, including Needham to $138.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) Director William Watkins sold 5,000 shares of the firm's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares in the company, valued at $1,396,398.89. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Nextpower Trading Down 1.3%
NASDAQ NXT opened at $115.60 on Tuesday. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59. The stock has a 50-day simple moving average of $94.42 and a 200 day simple moving average of $82.65. The company has a market capitalization of $17.15 billion, a PE ratio of 29.57, a P/E/G ratio of 3.45 and a beta of 2.34.
Nextpower (NASDAQ:NXT - Get Free Report) last posted its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.17. The company had revenue of $909.35 million during the quarter, compared to analyst estimates of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. As a group, sell-side analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Nextpower by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company's stock valued at $1,048,279,000 after acquiring an additional 283,981 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Nextpower by 1.1% in the second quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company's stock worth $417,334,000 after purchasing an additional 83,227 shares in the last quarter. State Street Corp lifted its position in shares of Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company's stock worth $398,932,000 after purchasing an additional 31,689 shares in the last quarter. Encompass Capital Advisors LLC boosted its holdings in Nextpower by 11.0% during the second quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company's stock worth $158,748,000 after purchasing an additional 289,663 shares during the last quarter. Finally, Invesco Ltd. grew its position in Nextpower by 9.9% in the third quarter. Invesco Ltd. now owns 2,725,449 shares of the company's stock valued at $201,656,000 after purchasing an additional 245,412 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of Nextpower from $103.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. lifted their target price on Nextpower from $92.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, October 24th. Citigroup upgraded Nextpower from a "neutral" rating to a "buy" rating and increased their price target for the stock from $66.00 to $114.00 in a report on Tuesday, October 21st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nextpower in a research report on Wednesday, January 28th. Finally, Bank of America boosted their price objective on Nextpower from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $108.32.
Get Our Latest Report on NXT
About Nextpower
(
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.
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