Nextpower (NASDAQ:NXT) COO Nicholas Marco Miller Sells 22,427 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) COO Nicholas Marco Miller sold 22,427 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.00, for a total value of $3,498,612.00. Following the completion of the transaction, the chief operating officer owned 186,194 shares of the company’s stock, valued at $29,046,264. The trade was a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $127.32, for a total value of $3,120,740.52.

Nextpower Price Performance

NXT stock opened at $145.02 on Tuesday. Nextpower Inc. has a 1-year low of $51.69 and a 1-year high of $163.13. The company has a market capitalization of $21.53 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 4.05 and a beta of 1.60. The business has a 50 day simple moving average of $122.42 and a two-hundred day simple moving average of $108.73.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 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. Sell-side analysts anticipate that Nextpower Inc. will post 3.58 EPS for the current fiscal year.

Institutional Trading of Nextpower

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jupiter Asset Management Ltd. raised its holdings in Nextpower by 0.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after buying an additional 86 shares during the period. Root Financial Partners LLC raised its holdings in Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after buying an additional 103 shares during the period. Signature Equity Partners LLC raised its holdings in Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares during the period. Janney Montgomery Scott LLC raised its holdings in Nextpower by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after buying an additional 119 shares during the period. Finally, Signaturefd LLC raised its holdings in Nextpower by 4.1% during the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen downgraded Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays increased their target price on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Roth Mkm reiterated a “buy” rating and set a $155.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. Robert W. Baird increased their target price on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, BNP Paribas Exane increased their target price on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday. Twenty investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.18.

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.