Key Points
- Nextpower President Howard Wenger sold 16,090 shares on May 20 at an average price of $127.32, generating about $2.05 million. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards.
- After the transaction, Wenger still held 508,582 shares valued at about $64.75 million, representing a 3.07% reduction in his position.
- Nextpower recently beat quarterly expectations, reporting EPS of $1.05 versus $0.89 expected and revenue of $880.52 million. Analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $136.54.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) President Howard Wenger sold 16,090 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $2,048,578.80. Following the sale, the president directly owned 508,582 shares in the company, valued at $64,752,660.24. The trade was a 3.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.
Nextpower Price Performance
Shares of NASDAQ NXT opened at $130.50 on Friday. The firm's 50 day simple moving average is $119.89 and its 200-day simple moving average is $107.28. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $156.78. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.98 and a beta of 1.60.
Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (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 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. Analysts anticipate that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Nextpower
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock valued at $26,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Nextpower by 268.7% in 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 in the last quarter. Signature Equity Partners LLC raised its position in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company's stock worth $31,000 after acquiring an additional 113 shares in the last quarter. Huntington National Bank raised its position in Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after acquiring an additional 317 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC purchased a new position in Nextpower in the third quarter worth $36,000. Hedge funds and other institutional investors own 67.41% of the company's stock.
Analyst Upgrades and Downgrades
NXT has been the topic of several recent research reports. Needham & Company LLC lifted their target price on shares of Nextpower from $103.00 to $138.00 and gave the stock a "buy" rating in a research note on Thursday, January 29th. Mizuho boosted their price objective on shares of Nextpower from $112.00 to $130.00 and gave the company a "neutral" rating in a report on Thursday, May 14th. KeyCorp restated an "overweight" rating on shares of Nextpower in a report on Friday, March 13th. Wells Fargo & Company lifted their target price on Nextpower from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Thursday, May 14th. Finally, Susquehanna boosted their price objective on Nextpower from $136.00 to $161.00 and gave the stock a "positive" rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $136.54.
Check Out Our Latest Report on Nextpower
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.
Further Reading
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