Nextpower (NASDAQ:NXT) CEO Daniel Shugar Sells 26,077 Shares

Nextpower Inc. (NASDAQ:NXT) CEO Daniel Shugar sold 26,077 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, the chief executive officer owned 931,419 shares in the company, valued at approximately $125,480,767.68. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Trading Up 3.5%

Shares of NXT opened at $135.78 on Thursday. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $156.78. The stock has a market cap of $20.16 billion, a P/E ratio of 35.45, a price-to-earnings-growth ratio of 3.23 and a beta of 1.60. The stock’s 50-day moving average price is $120.76 and its two-hundred day moving average price is $107.88.

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 analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts forecast that Nextpower Inc. will post 3.76 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. TD Cowen increased their target price on shares of Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Roth Mkm reiterated a “buy” rating and issued a $155.00 target price on shares of Nextpower in a report on Wednesday, May 13th. Barclays increased their price target on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Robert W. Baird raised their price target on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, BMO Capital Markets raised their price target on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.54.

Institutional Investors Weigh In On Nextpower

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Nextpower by 2.0% during the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock worth $1,048,279,000 after acquiring an additional 283,981 shares in the last quarter. State Street Corp increased its position in shares of Nextpower by 0.6% during the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after acquiring an additional 31,689 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Nextpower by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock worth $350,385,000 after acquiring an additional 236,593 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Nextpower by 5.1% in the fourth quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock valued at $249,541,000 after purchasing an additional 139,211 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Nextpower by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock valued at $211,627,000 after purchasing an additional 111,782 shares in 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.