Horizon Investment Services LLC Has $1.01 Million Stock Position in Nextpower Inc. $NXT

Horizon Investment Services LLC raised its stake in Nextpower Inc. (NASDAQ:NXT) by 124.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,569 shares of the company’s stock after buying an additional 6,423 shares during the quarter. Horizon Investment Services LLC’s holdings in Nextpower were worth $1,008,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nextpower by 19.6% during 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 last quarter. M&T Bank Corp bought a new position in Nextpower during the second quarter valued at $223,000. EverSource Wealth Advisors LLC grew its holdings in Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after purchasing an additional 724 shares during the period. Cerity Partners LLC grew its holdings in Nextpower by 154.0% during the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after purchasing an additional 11,239 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Nextpower by 36.5% during the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after purchasing an additional 59,573 shares during the period. 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 research reports. Wells Fargo & Company increased their price objective on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Susquehanna increased their price objective on Nextpower from $161.00 to $180.00 and gave the company a “positive” rating in a report on Monday, June 1st. Roth Mkm reissued a “buy” rating and set a $155.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price objective on Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, BNP Paribas Exane increased their price objective on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.77.

Insider Transactions at Nextpower

In related news, 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 sale, the president owned 426,467 shares in the company, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction on Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the sale, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at $54,416,715. This represents a 1.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by company insiders.

Nextpower Price Performance

Nextpower stock opened at $121.88 on Friday. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The business has a fifty day moving average price of $124.40 and a 200-day moving average price of $111.17. The firm has a market capitalization of $18.32 billion, a P/E ratio of 31.82, a PEG ratio of 2.89 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last posted its quarterly 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 analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Nextpower 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.