Pictet Asset Management Holding SA Lowers Stock Holdings in Nextpower Inc. $NXT

Pictet Asset Management Holding SA reduced its position in Nextpower Inc. (NASDAQ:NXT) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,760,792 shares of the company’s stock after selling 20,954 shares during the quarter. Pictet Asset Management Holding SA owned about 1.86% of Nextpower worth $332,532,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NXT. Union Bancaire Privee UBP SA lifted its stake in Nextpower by 187.0% in the 1st quarter. Union Bancaire Privee UBP SA now owns 93,758 shares of the company’s stock worth $11,303,000 after purchasing an additional 61,087 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Nextpower in the 1st quarter valued at $5,196,000. Kestra Private Wealth Services LLC grew its position in shares of Nextpower by 13.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,973 shares of the company’s stock valued at $2,769,000 after purchasing an additional 2,774 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Nextpower during the 1st quarter valued at $383,000. Finally, Blue Trust Inc. increased its holdings in shares of Nextpower by 64.4% in the first quarter. Blue Trust Inc. now owns 1,167 shares of the company’s stock worth $141,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $140.00 target price on Nextpower and gave the stock a “buy” rating in a research report on Tuesday, April 14th. BNP Paribas Exane raised their price target on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Roth Mkm restated a “buy” rating and set a $155.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Finally, Citigroup boosted their target price on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.52.

Insiders Place Their Bets

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 358,500 shares in the company, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 Nextpower stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.00, for a total value of $3,498,612.00. Following the completion of the sale, the chief operating officer owned 186,194 shares in the company, valued at approximately $29,046,264. This represents a 10.75% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. Insiders own 0.56% of the company’s stock.

Nextpower Trading Down 5.5%

NXT stock opened at $106.95 on Friday. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.52 and a beta of 1.73. The firm’s 50-day moving average price is $126.10 and its two-hundred day moving average price is $113.41. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company 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. Equities analysts predict that Nextpower Inc. will post 3.71 EPS for the current 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.