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

Nextpower Inc. (NASDAQ:NXT) President Howard Wenger sold 62,670 shares of the stock in a transaction on Tuesday, May 26th. The stock was 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 directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. This represents a 12.81% 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.

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

• On Friday, May 22nd, Howard Wenger sold 9,051 shares of Nextpower stock. The stock was 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 stock was sold at an average price of $127.32, for a total value of $2,048,578.80.

Nextpower Stock Up 3.5%

Shares of NASDAQ NXT traded up $4.57 during trading on Wednesday, reaching $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 12-month low of $51.69 and a 12-month high of $156.78. The stock has a market cap of $20.16 billion, a PE ratio of 35.45, a P/E/G ratio of 3.23 and a beta of 1.60. The business’s 50-day moving average is $120.76 and its 200 day moving average is $107.88.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS 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 company had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, analysts anticipate that Nextpower Inc. will post 3.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nextpower by 19.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after acquiring an additional 71,842 shares during the period. M&T Bank Corp bought a new position in Nextpower in the second quarter valued at about $223,000. EverSource Wealth Advisors LLC lifted its holdings in Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after acquiring an additional 724 shares during the period. Cerity Partners LLC lifted its holdings in Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after acquiring an additional 11,239 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Nextpower by 36.5% in the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after acquiring an additional 59,573 shares during the period. Institutional investors own 67.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Mizuho increased 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. Susquehanna increased their price objective on Nextpower from $136.00 to $161.00 and gave the company a “positive” rating in a research report on Wednesday, May 13th. Finally, BMO Capital Markets increased 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.54.

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.