Bruce Ledesma Sells 3,248 Shares of Nextpower (NASDAQ:NXT) Stock

Nextpower Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 3,248 shares of Nextpower stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the sale, the insider directly owned 246,130 shares in the company, valued at approximately $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 can be accessed 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 Trading Up 3.5%

NXT traded up $4.57 on Wednesday, hitting $135.78. 1,834,281 shares of the company’s stock were exchanged, compared to its average volume of 2,414,029. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $156.78. The firm has a 50-day moving average price of $120.76 and a 200-day moving average price of $107.88. The stock has a market cap of $20.16 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 3.23 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 (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities analysts predict that Nextpower Inc. will post 3.76 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Nextpower in the fourth quarter valued at about $170,918,000. William Blair Investment Management LLC acquired a new position in Nextpower in the third quarter valued at about $108,739,000. Amundi lifted its position in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company’s stock valued at $161,600,000 after buying an additional 1,287,071 shares during the last quarter. Janus Henderson Group PLC lifted its position in Nextpower by 134.3% in the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock valued at $164,488,000 after buying an additional 780,958 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Nextpower by 938.0% in the third quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company’s stock valued at $58,788,000 after buying an additional 717,991 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

NXT has been the topic of several recent research reports. Loop Capital set a $135.00 price target on shares of Nextpower in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. BNP Paribas Exane boosted their price target on shares of Nextpower from $145.00 to $177.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. BMO Capital Markets boosted their price target on shares of Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. Finally, Barclays boosted their price target on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.54.

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.