Key Points
- Nextpower COO Nicholas Marco Miller sold 22,427 shares on May 29 at an average price of $156.00, totaling about $3.5 million. The sale reduced his position by 10.75% and was made under a pre-arranged Rule 10b5-1 plan.
- The company reported strong quarterly results, posting EPS of $1.05 versus analyst estimates of $0.89 and revenue of $880.52 million, both ahead of expectations. Nextpower also raised its FY 2027 guidance to 4.210–4.590 EPS.
- Wall Street remains broadly positive on NXT, with 20 analysts rating it a Buy and five a Hold. The consensus price target is $147.18, and institutional ownership stands at 67.41%.
Nextpower Inc. (NASDAQ:NXT - Get Free Report) COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total value of $3,498,612.00. Following the sale, the chief operating officer owned 186,194 shares in the company, valued at $29,046,264. The trade was a 10.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Nicholas Marco Miller also recently made the following trade(s):
- On Wednesday, May 20th, Nicholas Marco Miller sold 24,511 shares of Nextpower stock. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52.
Nextpower Stock Down 7.3%
NXT stock opened at $145.02 on Tuesday. The business's fifty day simple moving average is $122.42 and its two-hundred day simple moving average is $108.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 4.05 and a beta of 1.60.
Nextpower (NASDAQ:NXT - Get Free Report) last released its 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. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The business had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts expect that Nextpower Inc. will post 3.58 EPS for the current year.
Hedge Funds Weigh In On Nextpower
A number of hedge funds and other institutional investors have recently made changes to their positions in NXT. Norges Bank bought a new position in shares of Nextpower during the 4th quarter worth $170,918,000. William Blair Investment Management LLC bought a new stake in Nextpower during the third quarter valued at about $108,739,000. Amundi boosted its position in Nextpower by 156.1% during the third quarter. Amundi now owns 2,111,628 shares of the company's stock valued at $161,600,000 after purchasing an additional 1,287,071 shares in the last quarter. Janus Henderson Group PLC boosted its position in Nextpower by 134.3% during the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company's stock valued at $164,488,000 after purchasing an additional 780,958 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Nextpower by 938.0% during the third quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company's stock valued at $58,788,000 after purchasing an additional 717,991 shares in the last quarter. Institutional investors own 67.41% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NXT. TD Cowen increased their target price on Nextpower from $105.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, May 13th. Mizuho increased their target price on Nextpower from $112.00 to $130.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings upgraded Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 20th. The Goldman Sachs Group set a $140.00 target price on Nextpower and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Finally, BMO Capital Markets increased their target price on Nextpower from $113.00 to $125.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $147.18.
Check Out Our Latest Research 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
