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

Nextpower (NASDAQ:NXT) had its target price dropped by Susquehanna from $180.00 to $168.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 49.06% from the company’s current price.

Several other research firms have also weighed in on NXT. BMO Capital Markets lifted their target price on shares of Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, May 13th. Mizuho increased their price target on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Weiss Ratings lowered Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Needham & Company LLC restated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Finally, Citigroup upped their target price on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nextpower currently has an average rating of “Moderate Buy” and an average target price of $148.39.

Nextpower Stock Performance

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

Nextpower (NASDAQ:NXT) last released 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 net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts forecast that Nextpower will post 3.71 EPS for the current fiscal year.

Insider Activity at Nextpower

In other news, President Howard Wenger sold 62,670 shares of the stock in a transaction dated 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 transaction, the president 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. The sale was disclosed in a document filed with the SEC, which is accessible 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, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their ownership of the stock. 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. Insiders sold 168,574 shares of company stock worth $22,559,770 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NXT. Franklin Street Advisors Inc. NC bought a new stake in shares of Nextpower in the 2nd quarter valued at approximately $684,000. Polianta Ltd acquired a new stake in shares of Nextpower during the 2nd quarter valued at approximately $1,763,000. MRA Advisory Group bought a new position in Nextpower during the second quarter worth $715,000. GAMMA Investing LLC lifted its stake in Nextpower by 7.4% during the second quarter. GAMMA Investing LLC now owns 5,531 shares of the company’s stock worth $659,000 after purchasing an additional 382 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in Nextpower by 17.5% in the second quarter. Moody National Bank Trust Division now owns 29,205 shares of the company’s stock worth $3,479,000 after purchasing an additional 4,358 shares during the period. Institutional investors own 67.41% of the company’s stock.

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.