Nextpower (NASDAQ:NXT) Shares Down 8% – What’s Next?

Nextpower Inc. (NASDAQ:NXT) was down 8% during mid-day trading on Tuesday . The company traded as low as $124.14 and last traded at $123.7750. Approximately 488,041 shares traded hands during trading, a decline of 76% from the average daily volume of 2,030,466 shares. The stock had previously closed at $134.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NXT shares. Glj Research reissued a “buy” rating and set a $147.33 price target on shares of Nextpower in a report on Monday, March 16th. The Goldman Sachs Group set a $140.00 price target on Nextpower and gave the stock a “buy” rating in a report on Tuesday, April 14th. TD Cowen raised their price target on Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Wells Fargo & Company raised their price target on Nextpower from $127.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $140.00 price target on shares of Nextpower in a report on Thursday. One equities 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.54.

Nextpower Stock Performance

The stock’s 50-day moving average price is $118.60 and its 200-day moving average price is $106.62. The company has a market capitalization of $19.59 billion, a price-to-earnings ratio of 34.48, a P/E/G ratio of 3.52 and a beta of 1.60.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts anticipate that Nextpower Inc. will post 3.8 earnings per share for the current year.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NXT. Smartleaf Asset Management LLC grew its stake in shares of Nextpower by 107.6% during the 4th 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 period. Whittier Trust Co. of Nevada Inc. boosted its position in Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares during the period. Signature Equity Partners LLC boosted its position in Nextpower by 76.4% during the 1st 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 period. Huntington National Bank boosted its position in Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the period. Finally, Foster Dykema Cabot & Partners LLC purchased a new stake in Nextpower during the 3rd quarter worth $36,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

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.