Nextpower (NASDAQ:NXT) Shares Gap Up Following Analyst Upgrade

Nextpower Inc. (NASDAQ:NXT) gapped up before the market opened on Friday after Wells Fargo & Company raised their price target on the stock from $143.00 to $151.00. The stock had previously closed at $137.17, but opened at $155.96. Wells Fargo & Company currently has an overweight rating on the stock. Nextpower shares last traded at $158.1820, with a volume of 833,387 shares trading hands.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group set a $159.00 price objective on shares of Nextpower in a research note on Friday. Mizuho lifted their target price on Nextpower from $112.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Wall Street Zen lowered Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $140.00 target price on shares of Nextpower in a report on Thursday, May 14th. Finally, Robert W. Baird lifted their target price on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.01.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of Nextpower stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. The trade was a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 240,995 shares of company stock worth $28,661,778. Insiders own 0.56% of the company’s stock.

More Nextpower News

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Nextpower announced a definitive agreement to acquire Prevalon Energy, expanding into battery energy storage and AI data center markets and raising its fiscal 2027 outlook. Article Title
• Positive Sentiment: Wells Fargo raised its price target on Nextpower to $151 and kept an overweight rating, signaling continued optimism despite the stock trading above that target. Article Title
• Positive Sentiment: Needham reaffirmed a buy rating on Nextpower, reinforcing the view that recent gains are supported by analyst confidence. Article Title
• Positive Sentiment: Recent bullish coverage and attention from investors suggest the stock is benefiting from momentum around its solar, storage, and AI-related growth story. Article Title

Hedge Funds Weigh In On Nextpower

Institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after acquiring an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Nextpower by 268.7% in 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 in the last quarter. Signature Equity Partners LLC grew its stake in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. Huntington National Bank grew its stake 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 in the last quarter. Finally, Foster Dykema Cabot & Partners LLC bought a new stake in shares of Nextpower in the 3rd quarter valued at approximately $36,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextpower Stock Performance

The firm has a market cap of $23.43 billion, a P/E ratio of 40.93, a PEG ratio of 3.34 and a beta of 1.60. The company has a 50 day moving average of $121.07 and a 200 day moving average of $108.11.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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. As a group, analysts expect that Nextpower Inc. will post 3.76 EPS for the current fiscal year.

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.