Nextpower (NASDAQ:NXT) Given Buy Rating at Roth Capital

Nextpower (NASDAQ:NXT)‘s stock had its “buy” rating reiterated by research analysts at Roth Capital in a research report issued on Tuesday,Benzinga reports. They presently have a $175.00 price objective on the stock. Roth Capital’s price objective would suggest a potential upside of 80.51% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. UBS Group reissued a “buy” rating and set a $170.00 price target on shares of Nextpower in a research report on Friday, May 29th. TD Cowen cut their target price on Nextpower from $135.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Zacks Research raised Nextpower from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. BMO Capital Markets raised their price target on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.42.

Nextpower Stock Performance

NASDAQ:NXT traded down $6.79 during mid-day trading on Tuesday, reaching $96.94. 1,549,567 shares of the company’s stock were exchanged, compared to its average volume of 2,401,973. Nextpower has a one year low of $52.61 and a one year high of $163.13. The business’s fifty day simple moving average is $120.08 and its two-hundred day simple moving average is $116.36. The firm has a market capitalization of $14.57 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 2.00 and a beta of 1.86.

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 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 firm 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. As a group, equities research analysts forecast that Nextpower will post 3.73 EPS for the current year.

Insider Activity

In related news, COO Nicholas Marco Miller sold 22,427 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the sale, the chief operating officer directly owned 186,194 shares in the company, valued at $29,046,264. This represents a 10.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the sale, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last ninety days, insiders sold 168,574 shares of company stock valued at $22,559,770. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Nextpower

A number of institutional investors and hedge funds have recently bought and sold shares of NXT. Legal & General Group Plc boosted its position in Nextpower by 4.6% during the 4th quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after buying an additional 18,380 shares during the period. Assetmark Inc. increased its position in Nextpower by 342,159.2% in the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock valued at $37,268,000 after acquiring an additional 427,699 shares during the period. Andrew Hill Investment Advisors Inc. raised its stake in shares of Nextpower by 31.2% during the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after acquiring an additional 16,666 shares during the last quarter. Azzad Asset Management Inc. ADV bought a new position in shares of Nextpower during the fourth quarter valued at $988,000. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of Nextpower by 215.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company’s stock worth $2,091,000 after purchasing an additional 16,388 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextpower Company Profile

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.