Nextpower Inc. (NASDAQ:NXT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Nextpower has a consensus analyst rating of “Moderate Buy”, based on coverage from 24 brokerages. The average 1-year target price is about $136.54, with most analysts rating the stock a buy or better.
• Several firms recently raised their price targets on NXT, including Needham, Susquehanna, UBS, and Barclays. Their updated targets range from $138 to $161, reflecting continued bullish sentiment.
• Nextpower reported a beat on quarterly earnings, posting $1.05 EPS versus the expected $0.89 and revenue of $880.52 million versus estimates. The stock also traded up 7.8%, even as insiders sold shares over the past three months.

Shares of Nextpower Inc. (NASDAQ:NXT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-four brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $136.5361.

Several equities research analysts have weighed in on NXT shares. Needham & Company LLC lifted their price target on shares of Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Susquehanna lifted their price target on shares of Nextpower from $136.00 to $161.00 and gave the company a "positive" rating in a research note on Wednesday, May 13th. UBS Group boosted their target price on shares of Nextpower from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Barclays boosted their target price on shares of Nextpower from $123.00 to $142.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Finally, KeyCorp reissued an "overweight" rating on shares of Nextpower in a research report on Friday, March 13th.

Insider Transactions at Nextpower

In other news, President Howard Wenger sold 16,090 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $2,048,578.80. Following the completion of the sale, the president directly owned 508,582 shares of the company's stock, valued at $64,752,660.24. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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, CEO Daniel S. Shugar sold 59,456 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the sale, the chief executive officer directly owned 746,339 shares of the company's stock, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 139,949 shares of company stock valued at $15,452,995 over the last three months. Corporate insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Nextpower

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signature Equity Partners LLC grew its position in 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 purchasing an additional 113 shares in the last quarter. Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in 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 purchasing an additional 223 shares in the last quarter. Huntington National Bank grew its position in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after purchasing an additional 317 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock worth $37,000 after purchasing an additional 182 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Nextpower Trading Up 7.8%

NXT opened at $130.50 on Friday. Nextpower has a 1-year low of $51.69 and a 1-year high of $156.78. The company has a market cap of $19.38 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 3.21 and a beta of 1.60. The company has a fifty day moving average price of $119.89 and a two-hundred day moving average price of $107.28.

Nextpower (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings results 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 net margin of 16.46% and a return on equity of 28.18%. 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. On average, research analysts forecast that Nextpower will post 3.76 EPS for the current fiscal year.

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.

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