Nextpower (NASDAQ:NXT) COO Sells $3,120,740.52 in Stock

Nextpower Inc. (NASDAQ:NXT) COO Nicholas Marco Miller sold 24,511 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the sale, the chief operating officer owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This trade represents a 9.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextpower Stock Up 7.8%

NASDAQ:NXT traded up $9.48 during mid-day trading on Friday, reaching $130.50. 2,803,244 shares of the company were exchanged, compared to its average volume of 2,404,494. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $156.78. The company has a fifty day moving average of $119.89 and a 200 day moving average of $107.28. The stock has a market cap of $19.38 billion, a PE ratio of 31.85, a PEG ratio of 2.98 and a beta of 1.60.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million for 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, equities research analysts anticipate that Nextpower Inc. will post 3.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Nextpower

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jupiter Asset Management Ltd. increased its holdings in shares of Nextpower by 0.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after purchasing an additional 86 shares during the last quarter. Root Financial Partners LLC grew its stake in shares of Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after acquiring an additional 103 shares in the last quarter. Signature Equity Partners LLC grew its stake in shares of Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Nextpower by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after acquiring an additional 119 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Nextpower by 4.1% in the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after acquiring an additional 126 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NXT shares. UBS Group lifted their price objective on shares of Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. JPMorgan Chase & Co. lifted their price objective on shares of Nextpower from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. KeyCorp reiterated an “overweight” rating on shares of Nextpower in a report on Friday, March 13th. Citigroup boosted their target price on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Mizuho boosted their target price on shares of Nextpower from $112.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.