Insider Selling: Nextpower (NASDAQ:NXT) COO Sells 22,427 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) COO Nicholas Marco Miller sold 22,427 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $156.00, for a total value of $3,498,612.00. Following the completion of the sale, the chief operating officer owned 186,194 shares in the company, valued at approximately $29,046,264. This trade represents a 10.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Stock Performance

Nextpower stock traded down $11.38 during midday trading on Monday, reaching $145.02. The stock had a trading volume of 2,487,275 shares, compared to its average volume of 2,096,609. The stock has a market capitalization of $21.79 billion, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 4.05 and a beta of 1.73. The firm’s fifty day simple moving average is $121.89 and its 200-day simple moving average is $108.45. Nextpower Inc. has a 1-year low of $51.69 and a 1-year high of $163.13.

Nextpower (NASDAQ:NXT) last issued 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 net margin of 16.46% and a return on equity of 28.18%. The company 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. On average, sell-side analysts anticipate that Nextpower Inc. will post 3.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Susquehanna boosted their price target on shares of Nextpower from $161.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday. Jefferies Financial Group raised their price objective on Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a report on Friday. Royal Bank Of Canada lifted their target price on Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday. The Goldman Sachs Group set a $140.00 target price on Nextpower and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, KeyCorp increased their price target on Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.18.

Hedge Funds Weigh In On Nextpower

A number of hedge funds and other institutional investors have recently bought and sold shares of NXT. Signature Equity Partners LLC increased its holdings in shares of Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Nextpower by 268.7% in 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. Huntington National Bank raised its position in shares of Nextpower by 480.3% in 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 period. Finally, Baillie Gifford & Co. lifted its stake in shares of Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after buying an additional 182 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

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.