Key Points
- Nextpower CEO Daniel Shugar sold 26,077 shares at an average price of $134.72, totaling about $3.51 million. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards.
- Nextpower shares rose 3.5% and were trading at $135.78, near the stock’s 52-week high of $156.78. The company also reported a strong quarter with EPS of $1.05, beating estimates, and revenue of $880.52 million above expectations.
- Analysts remain generally constructive on the stock, with a Moderate Buy consensus and an average target price of $136.54. Institutional ownership is high, with about 67.41% of shares held by institutions.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) insider Bruce Ledesma sold 3,248 shares of the business'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 $437,570.56. Following the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their position. The sale was disclosed in a legal filing 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 Stock Up 3.5%
Shares of NASDAQ NXT opened at $135.78 on Thursday. The business's 50 day moving average price is $120.76 and its two-hundred day moving average price is $107.88. The company has a market cap of $20.16 billion, a PE ratio of 35.45, a price-to-earnings-growth ratio of 3.23 and a beta of 1.60. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $156.78.
Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts anticipate that Nextpower Inc. will post 3.76 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NXT. Weiss Ratings raised shares of Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 20th. Robert W. Baird increased their price target on shares of Nextpower from $133.00 to $156.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Glj Research reissued a "buy" rating and issued a $147.33 price target on shares of Nextpower in a report on Monday, March 16th. The Goldman Sachs Group set a $140.00 price target on shares of Nextpower and gave the company a "buy" rating in a report on Tuesday, April 14th. Finally, Citigroup increased their price objective on Nextpower from $114.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. One 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.54.
View Our Latest Report on Nextpower
Institutional Investors Weigh In On Nextpower
Several institutional investors and hedge funds have recently bought and sold shares of NXT. Smartleaf Asset Management LLC lifted its position in 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 during the period. Whittier Trust Co. of Nevada Inc. lifted its position in 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 during the period. Signature Equity Partners LLC boosted its stake in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company's stock valued at $31,000 after buying an additional 113 shares in the last quarter. Huntington National Bank boosted its stake in Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock valued at $33,000 after buying an additional 317 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC acquired a new stake in Nextpower in the third quarter valued at about $36,000. Institutional investors own 67.41% of the company's stock.
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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