Nextpower (NASDAQ:NXT) Trading 9.3% Higher – Time to Buy?

Nextpower Inc. (NASDAQ:NXT)’s share price traded up 9.3% on Monday . The company traded as high as $99.40 and last traded at $99.6140. 1,194,780 shares were traded during mid-day trading, a decline of 8% from the average session volume of 1,299,879 shares. The stock had previously closed at $91.17.

Analysts Set New Price Targets

A number of research firms have recently commented on NXT. Needham & Company LLC began coverage on Nextpower in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $102.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $99.00 price target on shares of Nextpower and gave the company a “buy” rating in a research note on Friday, October 24th. The Goldman Sachs Group upped their price objective on shares of Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. increased their price objective on shares of Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, Guggenheim set a $74.00 target price on shares of Nextpower in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.43.

Nextpower Trading Up 8.7%

The stock’s fifty day simple moving average is $91.70 and its 200 day simple moving average is $78.06. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 3.15 and a beta of 2.38.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a return on equity of 35.05% and a net margin of 17.08%.The business had revenue of $905.27 million during the quarter, compared to analyst estimates of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. On average, analysts predict that Nextpower Inc. will post 3.29 EPS for the current year.

Insider Activity at Nextpower

In other news, CAO David P. Bennett sold 33,725 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value of $2,970,498.00. Following the completion of the sale, the chief accounting officer owned 130,967 shares of the company’s stock, valued at $11,535,573.36. This represents a 20.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total transaction of $918,500.00. Following the sale, the director owned 16,777 shares of the company’s stock, valued at $1,540,967.45. This represents a 37.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 91,468 shares of company stock valued at $8,246,979. 0.56% of the stock is owned by company insiders.

Institutional Trading of Nextpower

Institutional investors have recently added to or reduced their stakes in the stock. Bryce Point Capital LLC acquired a new position in Nextpower during the second quarter worth $998,000. Ethic Inc. boosted its position in shares of Nextpower by 65.1% during the 2nd quarter. Ethic Inc. now owns 8,469 shares of the company’s stock worth $494,000 after purchasing an additional 3,339 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Nextpower by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock worth $61,900,000 after purchasing an additional 35,642 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Nextpower during the 3rd quarter worth $1,278,000. Finally, Virtus Family Office LLC purchased a new position in shares of Nextpower in the 2nd quarter valued at about $1,650,000. Institutional investors and hedge funds 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.