Swedbank AB Cuts Stock Position in Nextpower Inc. $NXT

Swedbank AB lessened its position in shares of Nextpower Inc. (NASDAQ:NXT) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,933 shares of the company’s stock after selling 6,567 shares during the quarter. Swedbank AB owned about 0.10% of Nextpower worth $18,436,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NXT. Westfuller Advisors LLC purchased a new position in Nextpower in the first quarter worth $66,000. Abel Hall LLC lifted its holdings in shares of Nextpower by 23.5% during the 1st quarter. Abel Hall LLC now owns 8,548 shares of the company’s stock valued at $1,030,000 after purchasing an additional 1,628 shares during the last quarter. Hunter Associates Investment Management LLC acquired a new stake in shares of Nextpower in the 1st quarter worth $242,000. QRG Capital Management Inc. boosted its position in shares of Nextpower by 35.2% in the 1st quarter. QRG Capital Management Inc. now owns 4,492 shares of the company’s stock worth $542,000 after purchasing an additional 1,170 shares in the last quarter. Finally, HB Wealth Management LLC grew its stake in Nextpower by 11.0% during the 1st quarter. HB Wealth Management LLC now owns 3,039 shares of the company’s stock worth $366,000 after buying an additional 302 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Stock Up 2.7%

Nextpower stock opened at $112.71 on Friday. The stock has a 50-day moving average price of $125.79 and a 200 day moving average price of $115.15. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.20 and a beta of 1.86. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts anticipate that Nextpower Inc. will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXT. KeyCorp upped their target price on Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Jefferies Financial Group set a $153.00 price target on Nextpower in a research note on Friday, June 26th. Needham & Company LLC restated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Nextpower in a research report on Thursday, May 14th. Finally, BNP Paribas Exane lifted their target price on shares of Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Nextpower has a consensus rating of “Moderate Buy” and a consensus target price of $148.89.

Insider Activity

In related news, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction 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 directly owned 358,500 shares in the company, valued at approximately $54,416,715. The trade was a 1.24% 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. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 over the last quarter. Insiders own 0.56% of the company’s stock.

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.