Nextpower (NASDAQ:NXT) COO Nicholas Marco Miller Sells 24,511 Shares

Nextpower Inc. (NASDAQ:NXT) COO Nicholas Marco Miller sold 24,511 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the transaction, the chief operating officer owned 221,533 shares of the company’s stock, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nextpower Stock Up 7.8%

NASDAQ NXT opened at $130.50 on Friday. The company has a market cap of $19.38 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.98 and a beta of 1.60. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $156.78. The firm’s 50-day simple moving average is $119.89 and its two-hundred day simple moving average is $107.28.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities research analysts anticipate that Nextpower Inc. will post 3.76 EPS for the current year.

Institutional Investors Weigh In On Nextpower

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

Analyst Ratings Changes

Several research firms have commented on NXT. Susquehanna upped their price objective on shares of Nextpower from $136.00 to $161.00 and gave the company a “positive” rating in a report on Wednesday, May 13th. Glj Research reaffirmed a “buy” rating and set a $147.33 price objective on shares of Nextpower in a report on Monday, March 16th. TD Cowen upped their price objective on shares of Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Loop Capital set a $135.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average price target of $136.54.

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.