Nextpower Inc. (NASDAQ:NXT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Nextpower Inc. (NASDAQ:NXT) has earned an average recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $147.7683.

Several equities analysts have issued reports on the stock. BMO Capital Markets upped their price target on shares of Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Susquehanna increased their price objective on shares of Nextpower from $161.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday, June 1st. Citigroup increased their price objective on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Mizuho increased their price objective on shares of Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Finally, Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $123.31 on Thursday. Nextpower has a 52-week low of $51.69 and a 52-week high of $163.13. The firm has a 50 day moving average price of $125.21 and a two-hundred day moving average price of $112.07. The stock has a market cap of $18.53 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 2.98 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The firm had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts predict that Nextpower will post 3.69 earnings per share for the current fiscal year.

Insider Activity at Nextpower

In other news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction 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 completion of the sale, the chief financial officer directly owned 358,500 shares in the company, valued at $54,416,715. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the sale, the chief operating officer owned 186,194 shares of the company’s stock, valued at approximately $29,046,264. This trade represents a 10.75% 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 168,574 shares of company stock valued at $22,559,770 over the last 90 days. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nextpower

Several large investors have recently modified their holdings of NXT. Norges Bank acquired a new stake in Nextpower in the fourth quarter worth $170,918,000. William Blair Investment Management LLC acquired a new stake in Nextpower in the third quarter worth $108,739,000. Amundi grew its holdings in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after purchasing an additional 1,287,071 shares during the period. Janus Henderson Group PLC grew its holdings in Nextpower by 134.3% in the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock worth $164,488,000 after purchasing an additional 780,958 shares during the period. Finally, Electron Capital Partners LLC grew its holdings in Nextpower by 2,017.7% in the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock worth $41,909,000 after purchasing an additional 539,668 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

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.