Nextpower Inc. (NASDAQ:NXT) Given Average Rating of “Moderate Buy” by Analysts

Nextpower Inc. (NASDAQ:NXT) has been given an average rating of “Moderate Buy” by the twenty-four ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $136.5361.

A number of equities research analysts have issued reports on the stock. Needham & Company LLC upped their price objective 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. Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. UBS Group boosted their target price on shares of Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $140.00 target price on shares of Nextpower in a research note on Thursday, May 14th. Finally, Wells Fargo & Company boosted their target price on shares of Nextpower from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th.

Nextpower Stock Performance

Shares of NXT stock opened at $130.50 on Friday. Nextpower has a 52-week low of $51.69 and a 52-week high of $156.78. The company has a 50-day simple moving average of $119.89 and a two-hundred day simple moving average of $107.28. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.21 and a beta of 1.60.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, sell-side analysts forecast that Nextpower will post 3.76 EPS for the current fiscal year.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Nicholas Marco Miller sold 24,511 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,949 shares of company stock worth $15,452,995 over the last three months. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after buying an additional 71,842 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Nextpower during the 2nd quarter valued at approximately $223,000. EverSource Wealth Advisors LLC lifted its stake in shares of Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after buying an additional 724 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after buying an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after buying an additional 59,573 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

About Nextpower

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.