Nextpower (NASDAQ:NXT) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Nextpower (NASDAQ:NXT) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently commented on NXT. Bank of America increased their target price on Nextpower from $94.00 to $102.00 and gave the company a “buy” rating in a report on Friday, November 14th. Susquehanna increased their price objective on Nextpower from $76.00 to $100.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Cowen restated a “hold” rating on shares of Nextpower in a report on Friday, October 24th. BMO Capital Markets lifted their price target on shares of Nextpower from $89.00 to $93.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Finally, Northland Securities set a $111.00 price objective on shares of Nextpower in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.57.

Nextpower Stock Down 2.3%

NASDAQ:NXT opened at $96.36 on Friday. The company has a market capitalization of $14.30 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 3.33 and a beta of 2.38. Nextpower has a 52-week low of $36.06 and a 52-week high of $112.74. The stock has a fifty day simple moving average of $91.04 and a 200-day simple moving average of $79.05.

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

Insider Buying and Selling

In other Nextpower news, Director William D. Watkins sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total transaction of $918,500.00. Following the transaction, the director owned 16,777 shares of the company’s stock, valued at $1,540,967.45. This trade represents a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel S. Shugar sold 47,743 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the sale, the chief executive officer directly owned 624,882 shares of the company’s stock, valued at $57,039,228.96. This represents a 7.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 91,468 shares of company stock valued at $8,246,979. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Nextpower

Several institutional investors have recently bought and sold shares of NXT. Vanguard Group Inc. raised its stake in shares of Nextpower by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock valued at $1,048,279,000 after acquiring an additional 283,981 shares during the period. Primecap Management Co. CA increased its holdings in Nextpower by 1.1% in the 2nd quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock valued at $417,334,000 after purchasing an additional 83,227 shares in the last quarter. State Street Corp increased its holdings in Nextpower by 0.6% in the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after purchasing an additional 31,689 shares in the last quarter. Encompass Capital Advisors LLC raised its position in Nextpower by 11.0% in the second quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock valued at $158,748,000 after purchasing an additional 289,663 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Nextpower by 9.9% during the third quarter. Invesco Ltd. now owns 2,725,449 shares of the company’s stock worth $201,656,000 after purchasing an additional 245,412 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

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.