Nextpower (NASDAQ:NXT) Shares Down 8% – What’s Next?

Nextpower Inc. (NASDAQ:NXT)’s share price dropped 8% on Tuesday . The company traded as low as $124.14 and last traded at $123.7750. Approximately 488,041 shares traded hands during trading, a decline of 76% from the average daily volume of 2,030,466 shares. The stock had previously closed at $134.48.

Analyst Ratings Changes

A number of equities analysts have weighed in on NXT shares. Susquehanna upped their price objective on shares of Nextpower from $136.00 to $161.00 and gave the company a “positive” rating in a research report on Wednesday, May 13th. Mizuho upped their price objective on shares of Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Jefferies Financial Group reissued a “buy” rating and issued a $145.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Loop Capital set a $135.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Finally, BMO Capital Markets upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and a consensus price target of $136.54.

Nextpower Trading Down 1.9%

The stock has a market cap of $19.59 billion, a P/E ratio of 34.48, a PEG ratio of 3.52 and a beta of 1.60. The firm’s 50-day simple moving average is $118.60 and its 200 day simple moving average is $106.62.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 EPS 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 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. On average, analysts anticipate that Nextpower Inc. will post 3.8 EPS for the current year.

Insider Activity

In other news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Westfield Capital Management Co. LP boosted its holdings in Nextpower by 6.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after buying an additional 80,493 shares in the last quarter. New York Life Investment Management LLC bought a new stake in Nextpower during the third quarter worth approximately $1,008,000. Belpointe Asset Management LLC bought a new stake in Nextpower during the third quarter worth approximately $832,000. Strs Ohio boosted its holdings in Nextpower by 219.8% during the third quarter. Strs Ohio now owns 110,000 shares of the company’s stock worth $8,139,000 after buying an additional 75,600 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Nextpower by 23.4% during the third quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after buying an additional 128,296 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

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.