Insider Selling: Nextpower (NASDAQ:NXT) COO Sells 24,511 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) COO Nicholas Marco Miller sold 24,511 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the transaction, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextpower Stock Up 7.8%

Shares of NXT traded up $9.48 during trading hours on Friday, reaching $130.50. 2,803,244 shares of the company traded hands, compared to its average volume of 2,404,494. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $156.78. The stock has a market capitalization of $19.38 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.98 and a beta of 1.60. The business has a fifty day moving average price of $119.89 and a 200-day moving average price of $107.28.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts predict that Nextpower Inc. will post 3.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NXT. Smartleaf Asset Management LLC raised its position in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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 buying an additional 223 shares during the period. Signature Equity Partners LLC boosted its holdings in shares of 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 buying an additional 113 shares during the period. Huntington National Bank raised its stake in Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after purchasing an additional 317 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC acquired a new position in Nextpower during the 3rd quarter valued at $36,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NXT. JPMorgan Chase & Co. raised their price target on shares of Nextpower from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Bank of America raised their price target on shares of Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Citigroup lifted their price objective on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Finally, Glj Research reaffirmed a “buy” rating and issued a $147.33 target price on shares of Nextpower in a report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $136.54.

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.