Bleakley Financial Group LLC Invests $2.42 Million in Nextpower Inc. $NXT

Bleakley Financial Group LLC acquired a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,072 shares of the company’s stock, valued at approximately $2,420,000.

Other large investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. raised its stake in 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 acquiring an additional 86 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after acquiring an additional 103 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Nextpower by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after purchasing an additional 119 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Nextpower by 4.1% during the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after purchasing an additional 126 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after purchasing an additional 141 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Stock Down 2.1%

Shares of NASDAQ:NXT opened at $106.85 on Friday. The firm has a market cap of $16.06 billion, a P/E ratio of 27.90, a P/E/G ratio of 2.16 and a beta of 1.86. Nextpower Inc. has a 12-month low of $52.61 and a 12-month high of $163.13. The business has a fifty day simple moving average of $124.35 and a 200 day simple moving average of $115.67.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm 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, equities research analysts expect that Nextpower Inc. will post 3.77 EPS for the current year.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the sale, the chief executive officer owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, COO Nicholas Marco Miller sold 24,511 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the transaction, the chief operating officer owned 221,533 shares of the company’s stock, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 168,574 shares of company stock valued at $22,559,770 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Northland Securities increased their price target on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Citigroup raised their price objective on Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, BMO Capital Markets upped their target price on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.10.

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.