10,843 Shares in Nextpower Inc. $NXT Acquired by Nwam LLC

Nwam LLC bought a new position in Nextpower Inc. (NASDAQ:NXT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,843 shares of the company’s stock, valued at approximately $1,307,000.

Several other institutional investors have also recently added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after buying an additional 71,842 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Nextpower during the 2nd quarter valued at $223,000. EverSource Wealth Advisors LLC boosted its stake in Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after acquiring an additional 724 shares in the last quarter. Cerity Partners LLC boosted its stake in Nextpower by 154.0% during the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after acquiring an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System grew 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 worth $12,122,000 after purchasing an additional 59,573 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Price Performance

Shares of NASDAQ NXT opened at $109.13 on Thursday. The stock has a market capitalization of $16.40 billion, a P/E ratio of 28.49, a P/E/G ratio of 2.07 and a beta of 1.86. The company has a 50-day moving average price of $124.63 and a 200-day moving average price of $115.56. Nextpower Inc. has a 1 year low of $52.61 and a 1 year 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 for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities research analysts anticipate that Nextpower Inc. will post 3.77 earnings per share for the current fiscal year.

Trending Headlines about Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Truist Securities initiated coverage on Nextpower with a Buy rating, reinforcing a more optimistic analyst outlook for the stock. Why Is Nextpower Stock Surging on Wednesday?
• Positive Sentiment: Zacks Research upgraded Nextpower from Hold to Strong Buy, adding to the recent bullish momentum from analysts. Tickerreport.com
• Positive Sentiment: Truist Financial Corporation also upgraded Nextpower to Strong Buy, which may have helped drive renewed investor interest in the shares. Zacks.com
• Neutral Sentiment: Nextpower has been attracting increased attention from investors and Zacks users, signaling higher market interest but not necessarily a fundamental change. Nextpower Inc. (NXT) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Separate Zacks coverage highlighted that broker sentiment around Nextpower remains an important factor for investors, reflecting ongoing scrutiny of the stock by Wall Street. Nextpower (NXT) Is Considered a Good Investment by Brokers: Is That True?

Insider Activity

In other Nextpower news, COO Nicholas Marco Miller sold 22,427 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the sale, the chief operating officer directly owned 186,194 shares of the company’s stock, valued at approximately $29,046,264. The trade was a 10.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 value of $437,570.56. Following the completion of the sale, the insider directly owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last three months, insiders sold 168,574 shares of company stock worth $22,559,770. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NXT. JPMorgan Chase & Co. upped their price objective on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. BNP Paribas Exane raised their target price on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Truist Financial started coverage on Nextpower in a research note on Monday. They set a “buy” rating and a $140.00 price target on the stock. TD Cowen increased their price target on Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird raised their price objective on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.10.

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.