Nextpower (NASDAQ:NXT) Trading Down 8% – Time to Sell?

Nextpower Inc. (NASDAQ:NXT)’s stock price dropped 8% on Tuesday . The company traded as low as $124.14 and last traded at $123.7750. Approximately 488,041 shares traded hands during trading, a decline of 76% from the average daily volume of 2,030,466 shares. The stock had previously closed at $134.48.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NXT. BMO Capital Markets increased 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. Citigroup increased their price objective on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. UBS Group raised their price target on Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Jefferies Financial Group reissued a “buy” rating and set a $145.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Nextpower from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, May 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 company’s stock. According to MarketBeat, Nextpower presently has an average rating of “Moderate Buy” and a consensus price target of $136.54.

Nextpower Price Performance

The company has a 50-day simple moving average of $119.46 and a 200-day simple moving average of $106.97. The firm has a market cap of $18.62 billion, a PE ratio of 32.75, a price-to-earnings-growth ratio of 3.13 and a beta of 1.60.

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, topping the consensus estimate of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.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. As a group, equities research analysts predict that Nextpower Inc. will post 3.76 earnings per share for the current year.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the sale, the chief executive officer owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NXT. Signature Equity Partners LLC increased its holdings in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the period. Smartleaf Asset Management LLC raised its position in Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 223 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after buying an additional 317 shares during the period. Finally, Baillie Gifford & Co. grew its holdings in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after acquiring an additional 182 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

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.