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

Shares of Nextpower Inc. (NASDAQ:NXT) gapped up prior to trading on Wednesday . The stock had previously closed at $104.66, but opened at $109.79. Nextpower shares last traded at $111.2630, with a volume of 258,617 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $140.00 price objective on shares of Nextpower in a research note on Thursday, May 14th. Guggenheim raised shares of Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday. Royal Bank Of Canada increased their price target on shares of Nextpower from $146.00 to $149.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Roth Capital reissued a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a research note on Wednesday, May 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.10.

Nextpower Stock Down 2.1%

The business’s 50 day moving average is $124.35 and its two-hundred day moving average is $115.67. The firm has a market cap of $16.06 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.16 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results 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. 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. Equities research analysts anticipate that Nextpower Inc. will post 3.77 EPS for the current year.

Insider Transactions at Nextpower

In other Nextpower news, President Howard Wenger sold 62,670 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction 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 represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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, insider Bruce Ledesma sold 3,248 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. This represents a 1.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Nextpower

A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its position in Nextpower by 4.6% in the 4th quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock valued at $36,090,000 after acquiring an additional 18,380 shares in the last quarter. Assetmark Inc. raised its stake in shares of Nextpower by 342,159.2% in the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock worth $37,268,000 after purchasing an additional 427,699 shares during the last quarter. Andrew Hill Investment Advisors Inc. lifted its holdings in shares of Nextpower by 31.2% in the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after purchasing an additional 16,666 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new position in shares of Nextpower during the fourth quarter valued at approximately $988,000. Finally, Vestcor Inc grew its holdings in Nextpower by 480.8% during the fourth quarter. Vestcor Inc now owns 21,947 shares of the company’s stock worth $1,912,000 after buying an additional 18,168 shares in the last quarter. Institutional investors and hedge funds 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.