Key Points
- Nextpower President Howard Wenger sold 9,051 shares on May 22 at an average price of $121.02, totaling about $1.10 million. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity award vesting.
- Wenger had also sold 16,090 shares two days earlier on May 20 at an average price of $127.32, bringing his recent insider sales to a notable level.
- The company reported stronger-than-expected quarterly results, with EPS of $1.05 versus the $0.89 consensus and revenue of $880.52 million versus $826.26 million expected. Analysts remain broadly 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 9,051 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $121.02, for a total transaction of $1,095,352.02. Following the completion of the transaction, the president owned 499,531 shares of the company's stock, valued at approximately $60,453,241.62. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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.
Howard Wenger also recently made the following trade(s):
- On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The stock was sold at an average price of $127.32, for a total transaction of $2,048,578.80.
Nextpower Stock Performance
Shares of Nextpower stock opened at $131.21 on Wednesday. The firm has a 50-day simple moving average of $120.41 and a two-hundred day simple moving average of $107.67. The company has a market cap of $19.48 billion, a P/E ratio of 34.26, a price-to-earnings-growth ratio of 3.21 and a beta of 1.60. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $156.78.
Nextpower (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities research analysts forecast that Nextpower Inc. will post 3.76 EPS for the current year.
Analysts Set New Price Targets
Several research firms recently weighed in on NXT. The Goldman Sachs Group set a $140.00 price target on shares of Nextpower and gave the stock a "buy" rating in a research report on Tuesday, April 14th. UBS Group upped their price target on shares of Nextpower from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. TD Cowen upped their price target on shares of Nextpower from $105.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, May 13th. KeyCorp restated an "overweight" rating on shares of Nextpower in a research report on Friday, March 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nextpower from $125.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.54.
Get Our Latest Stock Analysis on NXT
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC raised its holdings in Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Nextpower by 268.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock valued at $28,000 after acquiring an additional 223 shares during the last quarter. Signature Equity Partners LLC raised its holdings in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company's stock valued at $31,000 after acquiring an additional 113 shares during the last quarter. Huntington National Bank raised its holdings in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company's stock valued at $33,000 after acquiring an additional 317 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC acquired a new stake in Nextpower in the 3rd quarter valued at about $36,000. Institutional investors and hedge funds own 67.41% of the company's stock.
Nextpower Company Profile
(
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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