Insider Selling: Nextpower (NASDAQ:NXT) President Sells 9,051 Shares of Stock

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 9,051 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $121.02, for a total transaction of $1,095,352.02. Following the completion of the transaction, the president directly owned 499,531 shares in the company, valued at approximately $60,453,241.62. The trade was a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.

Howard Wenger also recently made the following trade(s):

• On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The shares were sold at an average price of $127.32, for a total value of $2,048,578.80.

Nextpower Stock Up 0.5%

NASDAQ:NXT traded up $0.71 during trading hours on Tuesday, hitting $131.21. 2,368,934 shares of the company’s stock traded hands, compared to its average volume of 2,078,576. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $156.78. The business’s fifty day simple moving average is $120.41 and its two-hundred day simple moving average is $107.67. The firm has a market cap of $19.48 billion, a P/E ratio of 34.26, a P/E/G ratio of 3.21 and a beta of 1.60.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share 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 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, analysts expect that Nextpower Inc. will post 3.76 EPS for the current year.

Institutional Investors Weigh In On Nextpower

A number of hedge funds have recently made changes to their positions in NXT. Jupiter Asset Management Ltd. grew its holdings in shares of Nextpower by 0.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after purchasing an additional 86 shares during the last quarter. Root Financial Partners LLC lifted its stake in Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after purchasing an additional 103 shares during the last quarter. Signature Equity Partners LLC lifted its stake in Nextpower by 76.4% in the first 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 last quarter. Janney Montgomery Scott LLC boosted its position in Nextpower by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after buying an additional 119 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after buying an additional 126 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the company a “buy” rating in a research report on Tuesday, April 14th. Susquehanna raised their price objective on shares of Nextpower from $136.00 to $161.00 and gave the company a “positive” rating in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Nextpower from $127.00 to $143.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Barclays increased their target price on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, KeyCorp restated an “overweight” rating on shares of Nextpower in a research report on Friday, March 13th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.54.

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.