Nextpower Inc. (NASDAQ:NXT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Nextpower Inc. (NASDAQ:NXT) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $147.7683.

A number of brokerages have recently issued reports on NXT. Northland Securities lifted their price objective on shares of Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Jefferies Financial Group lifted their price objective on shares of Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a report on Friday, May 29th. Robert W. Baird lifted their price objective on shares of Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Roth Mkm reiterated a “buy” rating and set a $155.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. Finally, Citigroup lifted their price objective on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th.

Nextpower Trading Down 1.8%

NASDAQ:NXT opened at $123.31 on Thursday. The stock has a market capitalization of $18.53 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.98 and a beta of 1.73. The firm has a fifty day simple moving average of $125.21 and a two-hundred day simple moving average of $112.07. Nextpower has a 12 month low of $51.69 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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. Equities analysts predict that Nextpower will post 3.69 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer directly owned 221,533 shares in the company, valued at $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares in the company, valued at $54,416,715. The trade was a 1.24% 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. Over the last three months, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NXT. Norges Bank bought a new position in shares of Nextpower during the fourth quarter valued at about $170,918,000. William Blair Investment Management LLC bought a new position in shares of Nextpower during the third quarter valued at about $108,739,000. Amundi raised its position in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after acquiring an additional 1,287,071 shares during the period. Janus Henderson Group PLC raised its position in Nextpower by 134.3% in the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock worth $164,488,000 after acquiring an additional 780,958 shares during the period. Finally, Electron Capital Partners LLC raised its position in Nextpower by 2,017.7% in the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock worth $41,909,000 after acquiring an additional 539,668 shares during the period. 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.