Nextpower (NASDAQ:NXT) COO Sells $3,498,612.00 in Stock

Nextpower Inc. (NASDAQ:NXT) COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction dated Friday, May 29th. The shares were 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 owned 186,194 shares of the company’s stock, valued at $29,046,264. This trade represents a 10.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nicholas Marco Miller also recently made the following trade(s):

• On Wednesday, May 20th, Nicholas Marco Miller sold 24,511 shares of Nextpower stock. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52.

Nextpower Stock Down 3.8%

Shares of NASDAQ NXT opened at $146.47 on Thursday. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13. The firm has a 50-day simple moving average of $123.76 and a 200-day simple moving average of $109.53. The stock has a market capitalization of $22.01 billion, a price-to-earnings ratio of 38.24, a price-to-earnings-growth ratio of 3.63 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last announced 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 analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities research analysts expect that Nextpower Inc. will post 3.67 EPS for the current year.

Key Nextpower News

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Glj Research raised its price target on Nextpower to $149.44 and kept a buy rating, reinforcing bullish sentiment on the stock. Benzinga
• Positive Sentiment: Northland Securities lifted multiple EPS estimates for Nextpower and maintained an Outperform rating with a $162 target, signaling confidence in longer-term earnings growth.
• Neutral Sentiment: Nextpower’s lawsuit against GameChange could strengthen its intellectual property position, but it also introduces a legal fight that may take time to resolve. PV Tech
• Negative Sentiment: COO Nicholas Marco Miller and CFO Charles D. Boynton sold shares, which can temper investor enthusiasm even though both trades were made under pre-arranged plans.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Westfield Capital Management Co. LP boosted its stake in shares of Nextpower by 6.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock valued at $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 in the third quarter valued at approximately $1,008,000. Legal & General Group Plc boosted its stake in shares of Nextpower by 4.6% in the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock valued at $36,090,000 after purchasing an additional 18,380 shares during the period. American Century Companies Inc. boosted its stake in shares of Nextpower by 23.4% in the third quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock valued at $50,009,000 after purchasing an additional 128,296 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Nextpower by 31.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,500 shares of the company’s stock valued at $5,364,000 after purchasing an additional 17,500 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NXT. Barclays upped their price objective on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $140.00 price objective on shares of Nextpower in a report on Thursday, May 14th. JPMorgan Chase & Co. upped their price objective on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Royal Bank Of Canada upped their price objective on shares of Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, BNP Paribas Exane upped their price objective on shares of Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.27.

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.