Nextpower (NASDAQ:NXT) Given New $149.44 Price Target at Glj Research

Key Points

• Glj Research raised its price target on Nextpower to $149.44 from $147 and kept a buy rating, though that target still implies slight downside from the prior close.
• Other analysts remain broadly bullish, with firms like Northland Securities, Susquehanna, Jefferies, and KeyCorp also lifting their targets. Overall, MarketBeat shows a Moderate Buy consensus and an average price target of $147.27.
• Nextpower’s stock was up 5.0% to $152.22, near its 52-week high of $163.13. The company also beat quarterly earnings expectations, reporting $1.05 EPS versus $0.89 expected on revenue of $880.52 million.

Nextpower (NASDAQ:NXT - Get Free Report) had its target price raised by investment analysts at Glj Research from $147.00 to $149.44 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Glj Research's price objective would indicate a potential downside of 1.83% from the company's previous close.

NXT has been the subject of a number of other research reports. Northland Securities raised their price target on shares of Nextpower from $148.00 to $162.00 and gave the stock an "outperform" rating in a report on Friday. Susquehanna raised their price target on shares of Nextpower from $161.00 to $180.00 and gave the stock a "positive" rating in a report on Monday. TD Cowen raised their price target on shares of Nextpower from $105.00 to $135.00 and gave the stock a "hold" rating in a report on Wednesday, May 13th. Jefferies Financial Group raised their price target on shares of Nextpower from $145.00 to $159.00 and gave the stock a "buy" rating in a report on Friday. Finally, KeyCorp raised their price target on shares of Nextpower from $152.00 to $164.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $147.27.

Nextpower Trading Up 5.0%

NXT stock opened at $152.22 on Wednesday. The company has a market cap of $22.87 billion, a price-to-earnings ratio of 39.74, a PEG ratio of 3.75 and a beta of 1.73. Nextpower has a 12 month low of $51.69 and a 12 month high of $163.13. The firm has a 50-day moving average of $122.42 and a two-hundred day moving average of $108.73.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts forecast that Nextpower will post 3.58 earnings per share for the current year.

Insider Activity

In related news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the completion of the transaction, the chief executive officer owned 746,339 shares of the company's stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce Ledesma sold 3,248 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $33,158,633.60. The trade was a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 have sold a total of 228,030 shares of company stock worth $28,812,757 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nextpower

A number of hedge funds have recently made changes to their positions in NXT. Smartleaf Asset Management LLC boosted its position in shares of Nextpower by 107.6% during 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 during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Nextpower by 268.7% during 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 during the period. Signature Equity Partners LLC boosted its position in shares of Nextpower by 76.4% during 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 during the period. Huntington National Bank boosted its position in shares of Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after purchasing an additional 317 shares during the period. Finally, Foster Dykema Cabot & Partners LLC purchased a new position in shares of Nextpower during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 67.41% of the company's stock.

More Nextpower News

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Northland Securities raised several forward earnings estimates for Nextpower, including Q1 2027 and multiple 2028 quarters, while keeping an Outperform rating and $162 price target, reinforcing a bullish long-term outlook. MarketBeat NXT page
• Positive Sentiment: Nextpower filed a patent infringement lawsuit against GameChange Solar over three patents tied to its self-powered solar tracker and TrueCapture energy management system, which may help defend pricing power and intellectual property. Nextpower Files Patent Lawsuit Against GameChange Solar
• Neutral Sentiment: GameChange Energy said it will vigorously defend against the allegations, creating litigation uncertainty that could take time to resolve. GameChange Energy response
• Negative Sentiment: COO Nicholas Marco Miller and CFO Charles Boynton both sold shares in pre-arranged Rule 10b5-1 plans. While routine, insider selling can dampen sentiment if investors worry management sees less near-term upside. Insider trades alert

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.