Nextpower (NASDAQ:NXT) Insider Bruce Ledesma Sells 3,248 Shares

Nextpower Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 3,248 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the transaction, the insider owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a 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%

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

Nextpower (NASDAQ:NXT) last released 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 during 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. On average, analysts forecast that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NXT shares. Barclays boosted their price target on shares of Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. TD Cowen lifted their target price on Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Roth Mkm reaffirmed a “buy” rating and issued a $155.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $140.00 target price on shares of Nextpower in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.54.

Institutional Investors Weigh In On Nextpower

Institutional investors and hedge funds have recently modified their holdings of the company. Signature Equity Partners LLC raised its holdings in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 223 shares during the last quarter. Huntington National Bank increased its position 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 during the last quarter. Finally, Baillie Gifford & Co. increased its position 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 during the last quarter. 67.41% of the stock is owned by institutional investors.

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.