Nextpower (NASDAQ:NXT) Stock Price Expected to Rise, Bank of America Analyst Says

Nextpower (NASDAQ:NXT) had its target price increased by investment analysts at Bank of America from $94.00 to $102.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 8.80% from the stock’s previous close.

NXT has been the topic of several other research reports. BMO Capital Markets boosted their price objective on Nextpower from $89.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Robert W. Baird set a $100.00 price target on shares of Nextpower in a research note on Friday, October 31st. Barclays increased their price target on shares of Nextpower from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Roth Capital restated a “buy” rating and issued a $120.00 price objective on shares of Nextpower in a report on Thursday. Finally, Cowen reiterated a “hold” rating on shares of Nextpower in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Nextpower has an average rating of “Moderate Buy” and a consensus price target of $95.76.

Nextpower Stock Performance

Nextpower stock opened at $93.75 on Friday. The company’s 50 day simple moving average is $84.76 and its 200-day simple moving average is $67.94. Nextpower has a 1 year low of $33.29 and a 1 year high of $112.74. The company has a market capitalization of $13.91 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.34 and a beta of 2.31.

Nextpower (NASDAQ:NXT) last posted its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. The firm had revenue of $905.27 million during the quarter, compared to the consensus estimate of $839.53 million. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Equities analysts expect that Nextpower will post 3.29 earnings per share for the current year.

Insider Activity

In other news, President Howard Wenger sold 5,703 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the transaction, the president owned 414,256 shares in the company, valued at approximately $28,997,920. This represents a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $67.21, for a total value of $302,445.00. Following the sale, the chief financial officer directly owned 295,059 shares in the company, valued at $19,830,915.39. This trade represents a 1.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,420 shares of company stock valued at $1,092,930. Insiders own 0.56% of the company’s stock.

Institutional Trading of Nextpower

Several institutional investors have recently modified their holdings of NXT. Natural Investments LLC grew its position in shares of Nextpower by 0.9% in the 3rd quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after buying an additional 155 shares during the last quarter. Fifth Third Bancorp boosted its stake in Nextpower by 15.9% in the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after acquiring an additional 173 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Nextpower by 8.3% during the third quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $191,000 after purchasing an additional 198 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Nextpower by 0.6% during the second quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock worth $1,881,000 after purchasing an additional 200 shares in the last quarter. Finally, Flputnam Investment Management Co. increased its position in shares of Nextpower by 2.4% during the first quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company’s stock worth $363,000 after purchasing an additional 201 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, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.