Strategic Investment Advisors MI Buys New Shares in Nextpower Inc. $NXT

Strategic Investment Advisors MI purchased a new position in Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, Holdings Channel reports. The firm purchased 12,156 shares of the company’s stock, valued at approximately $1,465,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. raised its position 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 valued at $2,326,000 after buying an additional 86 shares during the last quarter. Root Financial Partners LLC grew its position in Nextpower by 30.0% during the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after buying an additional 103 shares in the last quarter. Signature Equity Partners LLC increased its stake in Nextpower by 76.4% during the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares during the period. Janney Montgomery Scott LLC increased its stake in Nextpower by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after acquiring an additional 119 shares during the period. Finally, Signaturefd LLC raised its holdings in Nextpower by 4.1% in the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after acquiring an additional 126 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NXT shares. Glj Research lifted their price objective on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Guggenheim raised Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, July 15th. BMO Capital Markets increased their price target on shares of Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Mizuho lifted their price objective on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Finally, Citigroup boosted their price target on Nextpower from $114.00 to $145.00 and gave the company a “buy” 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $151.42.

Nextpower Trading Down 2.8%

Shares of NASDAQ NXT opened at $92.67 on Thursday. Nextpower Inc. has a 1-year low of $52.61 and a 1-year high of $163.13. The company has a market cap of $13.93 billion, a PE ratio of 24.20, a P/E/G ratio of 1.90 and a beta of 1.86. The company has a 50-day moving average of $118.79 and a two-hundred day moving average of $116.43.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities research analysts forecast that Nextpower Inc. will post 3.73 earnings per share for the current year.

Insider Transactions at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $151.79, for a total transaction of $683,055.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing 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, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the sale, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This trade represents a 12.81% 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 quarter, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is currently owned by company insiders.

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.