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

Nextpower (NASDAQ:NXT) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other research analysts also recently issued reports on the stock. Mizuho set a $76.00 price target on shares of Nextpower in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a research report on Monday, December 29th. UBS Group boosted their price target on Nextpower to $125.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Bank of America upped their price objective on Nextpower from $94.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Nextpower from $93.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.57.

Nextpower Trading Down 2.3%

NXT opened at $96.36 on Friday. The company has a market cap of $14.30 billion, a P/E ratio of 25.03, a PEG ratio of 3.33 and a beta of 2.38. The company’s 50 day moving average is $91.04 and its 200-day moving average is $79.18. Nextpower has a 1-year low of $36.06 and a 1-year high of $112.74.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. The business had revenue of $905.27 million during 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. On average, equities analysts forecast that Nextpower will post 3.29 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel S. Shugar sold 47,743 shares of Nextpower 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 completion of the transaction, the chief executive officer owned 624,882 shares of the company’s stock, valued at $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer owned 130,967 shares in the company, valued at approximately $11,535,573.36. The trade was a 20.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 91,468 shares of company stock worth $8,246,979. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after purchasing an additional 71,842 shares in the last quarter. Strs Ohio acquired a new position in Nextpower in the first quarter valued at approximately $683,000. Parallel Advisors LLC lifted its stake in Nextpower by 13.3% in the second quarter. Parallel Advisors LLC now owns 6,515 shares of the company’s stock valued at $354,000 after buying an additional 763 shares during the period. Swedbank AB boosted its holdings in shares of Nextpower by 86.3% during the 2nd quarter. Swedbank AB now owns 114,000 shares of the company’s stock worth $6,198,000 after buying an additional 52,800 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Nextpower by 25.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,936 shares of the company’s stock worth $758,000 after buying an additional 2,821 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.