Howard Wenger Sells 9,051 Shares of Nextpower (NASDAQ:NXT) Stock

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 9,051 shares of Nextpower stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $121.02, for a total value of $1,095,352.02. Following the completion of the sale, the president directly owned 499,531 shares in the company, valued at approximately $60,453,241.62. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

Howard Wenger also recently made the following trade(s):

• On Tuesday, May 26th, Howard Wenger sold 62,670 shares of Nextpower stock. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50.
• On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The stock was sold at an average price of $127.32, for a total value of $2,048,578.80.

Nextpower Stock Performance

Shares of Nextpower stock opened at $135.78 on Thursday. The stock has a market cap of $20.16 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 3.23 and a beta of 1.60. The stock has a 50 day moving average price of $120.76 and a 200-day moving average price of $107.88. Nextpower Inc. has a one year low of $51.69 and a one year high of $156.78.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts predict that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nextpower

Several hedge funds have recently made changes to their positions in NXT. Smartleaf Asset Management LLC lifted its holdings in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings 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 worth $28,000 after buying an additional 223 shares during the period. Signature Equity Partners LLC lifted its holdings in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after buying an additional 113 shares during the period. Huntington National Bank lifted its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after buying an additional 317 shares during the period. Finally, Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Nextpower in the 3rd quarter worth $36,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Glj Research reiterated a “buy” rating and set a $147.33 price target on shares of Nextpower in a report on Monday, March 16th. Mizuho upped their price target on shares of Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Barclays upped their price target on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Loop Capital set a $135.00 price target on shares of Nextpower in a report on Wednesday, May 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $136.54.

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.