Nextpower (NASDAQ:NXT) Shares Down 7.1% – What’s Next?

Shares of Nextpower Inc. (NASDAQ:NXT) traded down 7.1% during mid-day trading on Wednesday . The company traded as low as $110.79 and last traded at $110.7640. 1,079,979 shares traded hands during trading, a decline of 48% from the average session volume of 2,085,185 shares. The stock had previously closed at $119.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group restated a “buy” rating and set a $170.00 price target on shares of Nextpower in a report on Friday, May 29th. 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 report on Wednesday, May 13th. KeyCorp upped their price target on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Robert W. Baird upped their price target on shares of Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $149.00 price target on shares of Nextpower in a report on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.77.

Nextpower Stock Up 6.9%

The stock’s 50-day moving average price is $124.37 and its 200 day moving average price is $111.09. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 2.65 and a beta of 1.73.

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

Insider Buying and Selling at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the transaction, the insider owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, COO Nicholas Marco Miller sold 24,511 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the transaction, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This represents a 9.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 168,574 shares of company stock valued at $22,559,770 in the last three months. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Signature Equity Partners LLC raised its position in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Nextpower by 107.6% in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares in the last quarter. Huntington National Bank raised its position in Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. raised its position in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

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.