Nextpower (NASDAQ:NXT) President Howard Wenger Sells 16,090 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 16,090 shares of Nextpower stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $2,048,578.80. Following the transaction, the president directly owned 508,582 shares of the company’s stock, valued at approximately $64,752,660.24. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Price Performance

Shares of NASDAQ NXT opened at $130.50 on Friday. The stock has a market cap of $19.38 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.98 and a beta of 1.60. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $156.78. The firm has a 50-day moving average of $119.89 and a 200 day moving average of $107.28.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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. Research analysts expect that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nextpower

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after buying an additional 71,842 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Nextpower during the second quarter valued at about $223,000. EverSource Wealth Advisors LLC raised its position in shares of Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after purchasing an additional 724 shares during the last quarter. Cerity Partners LLC raised its position in shares of Nextpower by 154.0% in the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after purchasing an additional 11,239 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Nextpower by 36.5% in the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after purchasing an additional 59,573 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NXT shares. Citigroup lifted their price target on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. BNP Paribas Exane upped their price target on shares of Nextpower from $145.00 to $177.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the stock a “buy” rating in a report on Tuesday, April 14th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Nextpower in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Nextpower currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.54.

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.