Nextpower (NASDAQ:NXT) President Sells $2,048,578.80 in Stock

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 16,090 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $2,048,578.80. Following the transaction, the president directly owned 508,582 shares of the company’s stock, valued at approximately $64,752,660.24. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.

Nextpower Stock Up 7.8%

Shares of NXT stock traded up $9.48 during trading hours on Friday, hitting $130.50. 2,803,244 shares of the company’s stock were exchanged, compared to its average volume of 2,404,494. The firm has a market cap of $19.38 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.98 and a beta of 1.60. The firm has a 50 day moving average of $119.89 and a two-hundred day moving average of $107.28. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $156.78.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million during 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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the subject of several recent research reports. BMO Capital Markets increased their price objective on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. UBS Group increased their price objective on Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Mizuho increased their price objective on Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings raised Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. One investment 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. According to MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and an average target price of $136.54.

Institutional Trading of Nextpower

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Westfield Capital Management Co. LP grew its holdings in shares of Nextpower by 6.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after purchasing an additional 80,493 shares during the period. New York Life Investment Management LLC purchased a new position in shares of Nextpower during the 3rd quarter worth $1,008,000. Belpointe Asset Management LLC purchased a new position in shares of Nextpower during the 3rd quarter worth $832,000. Strs Ohio grew its holdings in shares of Nextpower by 219.8% during the 3rd quarter. Strs Ohio now owns 110,000 shares of the company’s stock worth $8,139,000 after purchasing an additional 75,600 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Nextpower by 23.4% during the 3rd quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after purchasing an additional 128,296 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

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.