Nextpower (NASDAQ:NXT) Shares Gap Up – Should You Buy?

Nextpower Inc. (NASDAQ:NXT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $110.66, but opened at $115.73. Nextpower shares last traded at $117.2670, with a volume of 340,488 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on NXT. Mizuho lifted their target price on Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $140.00 price objective on shares of Nextpower in a report on Thursday, May 14th. Loop Capital set a $135.00 target price on shares of Nextpower in a report on Wednesday, May 13th. Wells Fargo & Company upped their price target on shares of Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Citigroup increased 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. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Nextpower presently has an average rating of “Moderate Buy” and an average price target of $148.69.

Nextpower Trading Down 2.5%

The company has a market capitalization of $17.45 billion, a P/E ratio of 30.33, a PEG ratio of 2.80 and a beta of 1.73. The firm’s 50 day moving average price is $126.53 and its two-hundred day moving average price is $114.10.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates 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. Analysts anticipate that Nextpower Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Activity at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, the insider owned 246,130 shares in the company, valued at $33,158,633.60. This trade represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the completion of the sale, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. This represents a 1.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NXT. Smartleaf Asset Management LLC boosted 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 worth $26,000 after acquiring an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 223 shares during the period. Signature Equity Partners LLC lifted its position in shares of Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares during the period. Huntington National Bank grew its stake in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after buying an additional 317 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC bought a new position in Nextpower in the third quarter valued at approximately $36,000. 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.