Nextpower (NASDAQ:NXT) Stock Price Target Cut by JPMorgan Chase & Co.

Nextpower (NASDAQ:NXT) had its target price reduced by research analysts at JPMorgan Chase & Co. from $136.00 to $134.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 67.86% from the company’s current price.

NXT has been the topic of several other reports. Barclays dropped their target price on Nextpower from $147.00 to $146.00 and set an “overweight” rating on the stock in a report on Tuesday, October 13th. UBS Group reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Nextpower in a research report on Monday, August 3rd. Zacks Research downgraded shares of Nextpower from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nextpower in a research note on Tuesday. Finally, Piper Sandler reduced their target price on shares of Nextpower from $116.00 to $110.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average target price of $137.00.

Nextpower Trading Down 2.7%

NASDAQ:NXT traded down $2.25 during mid-day trading on Thursday, hitting $79.83. The company had a trading volume of 4,001,345 shares, compared to its average volume of 2,391,387. The business has a fifty day simple moving average of $82.83 and a 200-day simple moving average of $106.82. Nextpower has a 1 year low of $75.40 and a 1 year high of $163.13. The firm has a market capitalization of $12.11 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.90 and a beta of 1.94.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, research analysts anticipate that Nextpower will post 3.80 earnings per share for the current year.

Insider Activity at Nextpower

In other Nextpower news, Director Julia Blunden sold 3,692 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $84.10, for a total value of $310,497.20. Following the transaction, the director directly owned 2,742 shares of the company’s stock, valued at $230,602.20. This represents a 57.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel Shugar sold 67,636 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $103.07, for a total value of $6,971,242.52. Following the transaction, the chief executive officer owned 871,131 shares of the company’s stock, valued at approximately $89,787,472.17. This trade represents a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,431 shares of company stock worth $10,039,748 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Nextpower

Several institutional investors have recently added to or reduced their stakes in the stock. Fundsmith LLP acquired a new position in Nextpower during the 2nd quarter worth $340,275,000. Bank of America Corp DE raised its stake in shares of Nextpower by 34.6% in the 1st quarter. Bank of America Corp DE now owns 1,568,235 shares of the company’s stock valued at $189,051,000 after purchasing an additional 402,770 shares in the last quarter. Janus Henderson Group PLC raised 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 in the last quarter. Robeco Schweiz AG raised its stake in shares of Nextpower by 98.8% in the 3rd quarter. Robeco Schweiz AG now owns 1,721,087 shares of the company’s stock valued at $134,124,000 after purchasing an additional 855,460 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Nextpower by 96.6% during the first quarter. Assetmark Inc. now owns 840,966 shares of the company’s stock worth $101,378,000 after purchasing an additional 413,142 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower News Roundup

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Quarterly results beat expectations. Nextpower reported adjusted earnings of $1.31 per share versus the $1.10 consensus estimate, while revenue reached $1.11 billion compared with expectations of $1.06 billion. Earnings also increased from $1.19 per share a year earlier. Nextpower Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Growth outlook remains supported by demand. Coverage highlighted six consecutive earnings beats, a reported backlog of approximately $6 billion and stronger sales momentum. RBC said Nextpower is laying the groundwork for further growth, which could support longer-term revenue visibility. Nextpower Laying Groundwork for Growth, RBC Says
• Positive Sentiment: Share repurchase provides support. Nextpower authorized a $500 million buyback, potentially reducing the share count and signaling confidence in the company’s cash position. Reports also cited cash reserves of roughly $953 million. Nextpower Stock and $500 Million Buyback
• Neutral Sentiment: Analysts remain bullish but trimmed targets. Susquehanna reduced its target from $150 to $145 while maintaining a positive rating; Needham lowered its target from $149 to $143 while retaining a buy rating. The revisions suggest continued confidence, but also more cautious near-term assumptions. Susquehanna Ratings Needham Ratings
• Negative Sentiment: Investors may be concerned about profitability and guidance. Reports noted that margins declined even as revenue rose, making execution and future profitability important watch points. The stock’s pullback suggests the earnings beat and buyback were not sufficient to offset concerns about forward results or elevated expectations. Nextpower Provides Third-Quarter Guidance

Nextpower Company Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company’s product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.