Nextpower Inc. $NXT Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its position in Nextpower Inc. (NASDAQ:NXT) by 65.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,214 shares of the company’s stock after purchasing an additional 105,687 shares during the period. Marshall Wace LLP’s holdings in Nextpower were worth $14,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Nextpower in the second quarter valued at approximately $140,772,000. Wellington Management Group LLP raised its holdings in Nextpower by 56.5% in the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock valued at $220,722,000 after acquiring an additional 1,890,445 shares during the last quarter. Encompass Capital Advisors LLC lifted its stake in shares of Nextpower by 72.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock worth $110,833,000 after purchasing an additional 1,105,617 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Nextpower during the second quarter worth $58,122,000. Finally, Nuveen LLC purchased a new stake in shares of Nextpower in the first quarter valued at $40,356,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXT has been the topic of several recent analyst reports. Roth Capital reiterated a “buy” rating and set a $120.00 target price on shares of Nextpower in a research report on Thursday, November 13th. UBS Group upped their price objective on shares of Nextpower to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Citigroup raised shares of Nextpower from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $114.00 in a research report on Tuesday, October 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a report on Monday. Finally, Bank of America increased their price target on shares of Nextpower from $94.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nextpower currently has an average rating of “Moderate Buy” and an average price target of $95.76.

Insider Buying and Selling

In related news, Director William D. Watkins sold 10,000 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the completion of the sale, the director directly owned 16,777 shares in the company, valued at approximately $1,540,967.45. This represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $91.28, for a total value of $4,357,981.04. Following the completion of the transaction, the chief executive officer directly owned 624,882 shares in the company, valued at $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 67,460 shares of company stock valued at $5,970,201 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Nextpower Stock Performance

NXT opened at $88.58 on Wednesday. Nextpower Inc. has a 1 year low of $33.29 and a 1 year high of $112.74. The firm has a 50 day moving average price of $91.15 and a 200 day moving average price of $72.66. The company has a market cap of $13.14 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 3.11 and a beta of 2.35.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The company had revenue of $905.27 million during the quarter, compared to the consensus estimate of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. On average, sell-side analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current year.

About Nextpower

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.