Nextpower’s (NXT) “Buy” Rating Reiterated at Roth Capital

Nextpower (NASDAQ:NXT)‘s stock had its “buy” rating reissued by stock analysts at Roth Capital in a report released on Tuesday,Benzinga reports. They presently have a $175.00 price target on the stock. Roth Capital’s price objective points to a potential upside of 80.51% from the company’s current price.

NXT has been the topic of a number of other research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $168.00 price target on shares of Nextpower in a research report on Wednesday, July 1st. Glj Research boosted their price objective on Nextpower from $147.00 to $149.44 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. BNP Paribas Exane upped their target price on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Citigroup lifted their target price on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Northland Securities boosted their price target on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.42.

Nextpower Trading Down 6.5%

NXT stock traded down $6.79 during trading on Tuesday, hitting $96.94. The company had a trading volume of 1,549,567 shares, compared to its average volume of 2,401,973. The business has a 50-day moving average of $120.08 and a 200-day moving average of $116.36. Nextpower has a one year low of $52.61 and a one year high of $163.13. The stock has a market cap of $14.57 billion, a PE ratio of 25.45, a PEG ratio of 2.00 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The firm had revenue of $880.52 million during 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. Research analysts forecast that Nextpower will post 3.73 EPS for the current year.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction 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 represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 168,574 shares of company stock worth $22,559,770 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Nextpower

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signature Equity Partners LLC raised 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 worth $31,000 after purchasing an additional 113 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 223 shares during the last quarter. Huntington National Bank grew its holdings in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after buying an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after buying an additional 182 shares in the last quarter. 67.41% of the stock is owned by 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.