Insider Selling: Nextpower (NASDAQ:NXT) CEO Sells 26,077 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) CEO Daniel Shugar sold 26,077 shares of Nextpower stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value 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. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

Nextpower Stock Performance

Shares of NASDAQ:NXT traded up $4.57 during trading on Wednesday, reaching $135.78. The stock had a trading volume of 1,834,281 shares, compared to its average volume of 2,414,029. The business has a fifty day moving average price of $120.76 and a 200-day moving average price of $107.88. The stock has a market cap of $20.16 billion, a PE ratio of 35.45, a PEG ratio of 3.23 and a beta of 1.60. Nextpower Inc. has a 1-year low of $51.69 and a 1-year high of $156.78.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results 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. The firm had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts expect that Nextpower Inc. will post 3.76 earnings per share for the current year.

Hedge Funds Weigh In On Nextpower

Several large investors have recently modified their holdings of NXT. Norges Bank acquired a new position in shares of Nextpower in the 4th quarter valued at $170,918,000. William Blair Investment Management LLC acquired a new position in shares of Nextpower in the 3rd quarter valued at $108,739,000. Amundi lifted its stake in shares of Nextpower by 156.1% in the 3rd quarter. Amundi now owns 2,111,628 shares of the company’s stock valued at $161,600,000 after purchasing an additional 1,287,071 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Nextpower by 134.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock valued at $164,488,000 after purchasing an additional 780,958 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Nextpower by 938.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company’s stock valued at $58,788,000 after purchasing an additional 717,991 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. TD Cowen boosted their price objective on Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Citigroup boosted their price objective on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price objective on Nextpower from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $140.00 price objective on Nextpower and gave the stock a “buy” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.54.

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.