Nextpower (NASDAQ:NXT) Price Target Raised to $149.44 at Glj Research

Nextpower (NASDAQ:NXT) had its price target boosted by Glj Research from $147.00 to $149.44 in a report published on Wednesday, Marketbeat reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also weighed in on NXT. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Loop Capital set a $135.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. KeyCorp increased their target price on shares of Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Susquehanna increased their target price on shares of Nextpower from $161.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nextpower currently has an average rating of “Moderate Buy” and a consensus target price of $147.27.

Nextpower Stock Performance

NXT opened at $146.47 on Wednesday. The firm has a market cap of $22.01 billion, a P/E ratio of 38.24, a PEG ratio of 3.63 and a beta of 1.73. The firm has a 50-day moving average of $123.76 and a 200 day moving average of $109.53. Nextpower has a fifty-two week low of $51.69 and a fifty-two week high of $163.13.

Nextpower (NASDAQ:NXT) last issued 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. The firm had revenue of $880.52 million during the quarter, compared to analyst estimates 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 predict that Nextpower will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the sale, the chief executive officer directly owned 931,419 shares in the company, valued at $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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. Also, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. The trade was a 1.24% 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 sold a total of 228,030 shares of company stock valued at $28,812,757 over the last quarter. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Nextpower

Several 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 valued at $26,000 after purchasing an additional 155 shares during the last quarter. 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 valued at $28,000 after purchasing an additional 223 shares during the last quarter. Signature Equity Partners LLC lifted its position in Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Huntington National Bank lifted its position in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC bought a new stake in Nextpower during the third quarter valued at approximately $36,000. 67.41% of the stock is currently owned by institutional investors.

Key Stories Impacting Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Glj Research raised its price target on Nextpower to $149.44 and kept a buy rating, reinforcing bullish sentiment on the stock. Benzinga
• Positive Sentiment: Northland Securities lifted multiple EPS estimates for Nextpower and maintained an Outperform rating with a $162 target, signaling confidence in longer-term earnings growth.
• Neutral Sentiment: Nextpower’s lawsuit against GameChange could strengthen its intellectual property position, but it also introduces a legal fight that may take time to resolve. PV Tech
• Negative Sentiment: COO Nicholas Marco Miller and CFO Charles D. Boynton sold shares, which can temper investor enthusiasm even though both trades were made under pre-arranged plans.

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.