Osbon Capital Management LLC Purchases New Position in Nextpower Inc. $NXT

Osbon Capital Management LLC purchased a new stake in Nextpower Inc. (NASDAQ:NXT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,526 shares of the company’s stock, valued at approximately $394,000.

Several other hedge funds have also recently bought and sold shares of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Nextpower by 19.6% in 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 valued at $18,436,000 after purchasing an additional 71,842 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Nextpower during the 2nd quarter worth about $223,000. EverSource Wealth Advisors LLC increased its position in shares of Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after purchasing an additional 724 shares in the last quarter. Cerity Partners LLC lifted its holdings in Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after purchasing an additional 11,239 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after purchasing an additional 59,573 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the sale, the chief financial officer owned 358,500 shares in the company, valued at $54,416,715. The trade was a 1.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This trade represents a 2.72% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 168,574 shares of company stock worth $22,559,770. 0.56% of the stock is currently owned by company insiders.

Nextpower Price Performance

NXT stock opened at $125.90 on Friday. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13. The company has a market cap of $18.92 billion, a P/E ratio of 32.87, a PEG ratio of 2.98 and a beta of 1.73. The business has a fifty day moving average of $125.73 and a 200-day moving average of $112.40.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million for the quarter, compared to analysts’ expectations 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 anticipate that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on NXT. KeyCorp boosted their price target on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. TD Cowen raised their price objective on shares of Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. UBS Group reiterated a “buy” rating and issued a $170.00 target price on shares of Nextpower in a research note on Friday, May 29th. Barclays boosted their target price on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $140.00 price target on shares of Nextpower in a research report on Thursday, May 14th. Twenty investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Nextpower has an average rating of “Moderate Buy” and an average price target of $147.77.

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.