Nextpower (NASDAQ:NXT) Trading Down 6.4% – What’s Next?

Shares of Nextpower Inc. (NASDAQ:NXT) were down 6.4% during trading on Monday . The stock traded as low as $86.74 and last traded at $86.8150. Approximately 437,204 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 779,075 shares. The stock had previously closed at $92.78.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $114.00 in a research report on Tuesday, October 21st. Wells Fargo & Company lifted their price objective on Nextpower from $72.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Bank of America raised their price target on Nextpower from $94.00 to $102.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. UBS Group raised their target price on shares of Nextpower to $125.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets upped their price target on shares of Nextpower from $89.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nextpower has an average rating of “Moderate Buy” and an average target price of $95.76.

Nextpower Price Performance

The stock has a market cap of $13.30 billion, a P/E ratio of 23.27, a PEG ratio of 3.22 and a beta of 2.38. The business’s fifty day moving average price is $92.71 and its 200 day moving average price is $76.63.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.21. The company had revenue of $905.27 million for the quarter, compared to analyst estimates of $839.53 million. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. On average, analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total transaction of $918,500.00. Following the sale, the director directly owned 16,777 shares in the company, valued at approximately $1,540,967.45. The trade was a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David P. Bennett sold 33,725 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value of $2,970,498.00. Following the completion of the transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at $11,535,573.36. This represents a 20.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 91,468 shares of company stock worth $8,246,979 in the last 90 days. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Nextpower

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nextpower by 703.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after purchasing an additional 577 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Nextpower by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after acquiring an additional 324 shares during the period. Foster Dykema Cabot & Partners LLC bought a new position in shares of Nextpower in the 3rd quarter worth about $36,000. BOKF NA lifted its stake in shares of Nextpower by 1,135.7% in the 3rd quarter. BOKF NA now owns 519 shares of the company’s stock valued at $38,000 after purchasing an additional 477 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of Nextpower by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after purchasing an additional 782 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Company Profile

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.