Susquehanna Cuts Nextpower (NASDAQ:NXT) Price Target to $168.00

Nextpower (NASDAQ:NXT) had its target price reduced by equities research analysts at Susquehanna from $180.00 to $168.00 in a report issued on Friday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 49.06% from the company’s previous close.

Several other equities research analysts have also commented on NXT. The Goldman Sachs Group reiterated a “buy” rating and issued a $168.00 price objective on shares of Nextpower in a research report on Wednesday, July 1st. Citigroup raised their target price on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Northland Securities upped their price target on shares of Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Glj Research increased their price target on shares of Nextpower from $147.00 to $149.44 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Finally, KeyCorp raised their price objective on shares of Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.39.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $112.71 on Friday. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.86. The business’s 50 day simple moving average is $125.79 and its 200-day simple moving average is $115.15. Nextpower has a 12 month low of $52.61 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.16. The firm had revenue of $880.52 million during the quarter, compared to the consensus estimate 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. On average, equities analysts anticipate that Nextpower will post 3.71 earnings per share for the current year.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the sale, the chief executive officer owned 931,419 shares in the company, valued at approximately $125,480,767.68. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the completion of the transaction, the chief financial officer owned 358,500 shares of the company’s stock, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nextpower

Several institutional investors have recently added to or reduced their stakes in NXT. Legal & General Group Plc raised its stake in Nextpower by 4.6% during the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after purchasing an additional 18,380 shares during the period. Assetmark Inc. increased its holdings in shares of Nextpower by 342,159.2% during the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock worth $37,268,000 after buying an additional 427,699 shares during the last quarter. Andrew Hill Investment Advisors Inc. raised its position in shares of Nextpower by 31.2% in the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock worth $6,100,000 after buying an additional 16,666 shares during the period. Granahan Investment Management LLC boosted its holdings in Nextpower by 219.8% in the third quarter. Granahan Investment Management LLC now owns 415,166 shares of the company’s stock valued at $30,718,000 after acquiring an additional 285,362 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV acquired a new position in Nextpower in the fourth quarter valued at $988,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

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.