Howard Wenger Sells 62,670 Shares of Nextpower (NASDAQ:NXT) Stock

Key Points

• Nextpower President Howard Wenger sold 62,670 shares on May 26 at an average price of $130.25, for proceeds of about $8.16 million. The sale was part of a pre-arranged Rule 10b5-1 plan and was tied to tax withholding on vested equity awards.
• The stock was trading higher, up 3.5% to $135.78 in Wednesday trading, leaving it near its 52-week high of $156.78 and above both its 50-day and 200-day moving averages.
• Nextpower beat quarterly expectations, reporting $1.05 EPS versus $0.89 expected and revenue of $880.52 million versus $826.26 million estimated. Analysts currently rate the stock a “Moderate Buy” with a consensus price target of $136.54.

Nextpower Inc. (NASDAQ:NXT - Get Free Report) President Howard Wenger sold 62,670 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the sale, the president owned 426,467 shares of the company's stock, valued at $55,547,326.75. The trade was a 12.81% decrease in their position. The sale was disclosed in a legal filing 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.

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

• On Friday, May 22nd, Howard Wenger sold 9,051 shares of Nextpower stock. The shares were sold at an average price of $121.02, for a total value of $1,095,352.02.
• On Wednesday, May 20th, Howard Wenger sold 16,090 shares of Nextpower stock. The shares were sold at an average price of $127.32, for a total value of $2,048,578.80.

Nextpower Trading Up 3.5%

NXT stock traded up $4.57 during midday trading on Wednesday, hitting $135.78. The company had a trading volume of 1,834,281 shares, compared to its average volume of 2,414,029. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $156.78. The stock's 50 day moving average price is $120.76 and its 200 day moving average price is $107.88. The stock has a market cap of $20.16 billion, a price-to-earnings ratio of 35.45, a PEG ratio of 3.23 and a beta of 1.60.

Nextpower (NASDAQ:NXT - Get Free Report) last announced 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. 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 the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts predict that Nextpower Inc. will post 3.76 earnings per share for the current year.

Institutional Investors Weigh In On Nextpower

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXT. Vanguard Group Inc. grew its stake in shares of Nextpower by 2.0% in the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company's stock worth $1,048,279,000 after acquiring an additional 283,981 shares during the last quarter. State Street Corp grew its stake in shares of Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company's stock worth $398,932,000 after acquiring an additional 31,689 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Nextpower by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company's stock worth $350,385,000 after acquiring an additional 236,593 shares during the last quarter. Invesco Ltd. grew its stake in shares of Nextpower by 5.1% in the fourth quarter. Invesco Ltd. now owns 2,864,660 shares of the company's stock worth $249,541,000 after acquiring an additional 139,211 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Nextpower by 4.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company's stock worth $211,627,000 after acquiring an additional 111,782 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NXT has been the subject of several recent research reports. Mizuho boosted their price objective on Nextpower from $112.00 to $130.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $145.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. BMO Capital Markets boosted their price objective on Nextpower from $113.00 to $125.00 and gave the company a "market perform" rating in a research report on Wednesday, May 13th. BNP Paribas Exane boosted their target price on Nextpower from $145.00 to $177.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Finally, Robert W. Baird boosted their target price on Nextpower from $133.00 to $156.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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