Sequoia Financial Advisors LLC Makes New $351,000 Investment in Nextpower Inc. $NXT

Sequoia Financial Advisors LLC bought a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,027 shares of the company’s stock, valued at approximately $351,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after purchasing an additional 126 shares during the period. Allworth Financial LP boosted its position in Nextpower by 16.8% during the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock worth $72,000 after purchasing an additional 141 shares during the period. Fifth Third Bancorp boosted its position in Nextpower by 15.9% during the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock worth $94,000 after purchasing an additional 173 shares during the period. Baillie Gifford & Co. boosted its position in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the period. Finally, CWM LLC boosted its position in Nextpower by 3.2% during the fourth quarter. CWM LLC now owns 5,978 shares of the company’s stock worth $521,000 after purchasing an additional 183 shares during the period. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Down 6.8%

Shares of NXT stock opened at $134.48 on Tuesday. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $156.78. The firm has a market cap of $19.97 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 3.52 and a beta of 1.60. The stock has a 50 day moving average of $118.60 and a 200-day moving average of $106.62.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million during 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 analysts predict that Nextpower Inc. will post 3.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of recent analyst reports. UBS Group upped their target price on Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. JPMorgan Chase & Co. upped their target price on Nextpower from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Roth Mkm reiterated a “buy” rating and set a $155.00 price target on shares of Nextpower in a report on Wednesday, May 13th. Needham & Company LLC upped their price target on Nextpower from $103.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Bank of America upped their price target on Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.54.

Insider Activity at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.