Nextpower (NASDAQ:NXT) Shares Gap Up – Should You Buy?

Shares of Nextpower Inc. (NASDAQ:NXT) gapped up prior to trading on Tuesday . The stock had previously closed at $110.66, but opened at $115.73. Nextpower shares last traded at $117.2670, with a volume of 340,488 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NXT. Weiss Ratings downgraded Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Susquehanna increased their price objective on shares of Nextpower from $161.00 to $180.00 and gave the stock a “positive” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their target price on shares of Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. UBS Group reaffirmed a “buy” rating and set a $170.00 target price on shares of Nextpower in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.52.

Nextpower Stock Up 3.7%

The stock has a fifty day simple moving average of $126.18 and a 200 day simple moving average of $113.73. The firm has a market capitalization of $17.24 billion, a P/E ratio of 29.96, a PEG ratio of 2.52 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data 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. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.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. Research analysts anticipate that Nextpower Inc. will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, President Howard Wenger sold 62,670 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the sale, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 168,574 shares of company stock worth $22,559,770 over the last ninety days. 0.56% of the stock is owned by company insiders.

Institutional Trading of Nextpower

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its stake in Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Signature Equity Partners LLC grew its position in shares of Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares in the last quarter. Huntington National Bank increased its holdings in shares of Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Finally, Foster Dykema Cabot & Partners LLC bought a new stake in shares of Nextpower in the third quarter worth about $36,000. 67.41% of the stock is currently owned by institutional investors.

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.