Nextpower (NASDAQ:NXT) CEO Sells $3,513,093.44 in Stock

Nextpower Inc. (NASDAQ:NXT) CEO Daniel Shugar sold 26,077 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the sale, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 Price Performance

Shares of NXT stock traded up $4.57 on Wednesday, hitting $135.78. The stock had a trading volume of 1,834,281 shares, compared to its average volume of 2,414,029. The firm has a market capitalization of $20.16 billion, a P/E ratio of 35.45, a P/E/G 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. The company’s 50 day moving average price is $120.76 and its 200-day moving average price is $107.88.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. The firm had revenue of $880.52 million for the quarter, compared to the consensus estimate 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, equities analysts forecast that Nextpower Inc. will post 3.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NXT. BMO Capital Markets boosted their price objective on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Wells Fargo & Company boosted their price objective on Nextpower from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Barclays boosted their price objective on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Jefferies Financial Group reiterated a “buy” rating and issued a $145.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.54.

Institutional Investors Weigh In On Nextpower

Large investors have recently bought and sold shares of the stock. Signature Equity Partners LLC increased its holdings 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. Smartleaf Asset Management LLC increased its holdings in 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 purchasing an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings 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. Huntington National Bank boosted its position in shares of Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after acquiring an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

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.