Aventail Capital Group LP Invests $6.32 Million in Nextpower Inc. $NXT

Aventail Capital Group LP purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,590 shares of the company’s stock, valued at approximately $6,323,000.

Several other large investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. raised its stake in shares of Nextpower by 0.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after purchasing an additional 86 shares during the last quarter. Signaturefd LLC raised its stake in shares of Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after purchasing an additional 126 shares during the last quarter. Allworth Financial LP raised its stake in shares of Nextpower by 16.8% during the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock worth $72,000 after purchasing an additional 141 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Nextpower by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock worth $114,000 after purchasing an additional 143 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Nextpower by 107.6% during the fourth 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 last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

Nextpower stock opened at $123.31 on Thursday. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $163.13. The stock’s fifty day moving average is $125.21 and its two-hundred day moving average is $112.07.

Nextpower (NASDAQ:NXT) last posted its 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. The company had revenue of $880.52 million for the quarter, compared to analyst estimates of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, sell-side analysts forecast that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the subject of several analyst reports. Barclays upped their price target on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Needham & Company LLC restated a “buy” rating and set a $149.00 price target on shares of Nextpower in a research note on Friday, May 29th. Roth Mkm reiterated a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. BMO Capital Markets increased their price objective on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company increased their price objective on Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.77.

Insider Buying and Selling

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total value of $3,498,612.00. Following the sale, the chief operating officer directly owned 186,194 shares in the company, valued at approximately $29,046,264. The trade was a 10.75% 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. Insiders have sold 168,574 shares of company stock valued at $22,559,770 in the last three months. 0.56% of the stock is owned by insiders.

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.