Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Nextpower Inc. $NXT

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Nextpower Inc. (NASDAQ:NXT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 120,003 shares of the company’s stock, valued at approximately $10,453,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares during the period. Baillie Gifford & Co. increased its position in Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after purchasing an additional 182 shares during the period. Foster Dykema Cabot & Partners LLC acquired a new stake in Nextpower during the 3rd quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. increased its position in Nextpower by 511.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after purchasing an additional 414 shares during the period. Finally, Rakuten Securities Inc. increased its position in Nextpower by 324.8% during the 4th quarter. Rakuten Securities Inc. now owns 514 shares of the company’s stock valued at $45,000 after purchasing an additional 393 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $145.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Nextpower from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Susquehanna raised their price objective on shares of Nextpower from $136.00 to $161.00 and gave the stock a “positive” rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of Nextpower from $127.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One equities research 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’s stock. According to data from MarketBeat, Nextpower has a consensus rating of “Moderate Buy” and an average target price of $136.54.

Nextpower Trading Down 5.5%

Shares of NASDAQ:NXT opened at $127.12 on Wednesday. Nextpower Inc. has a 1-year low of $51.69 and a 1-year high of $156.78. The stock has a market cap of $18.87 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 3.28 and a beta of 1.60. The stock’s fifty day simple moving average is $119.12 and its two-hundred day simple moving average is $106.79.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data 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 return on equity of 28.18% and a net margin of 16.46%.The company had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, sell-side analysts forecast that Nextpower Inc. will post 3.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of Nextpower stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the completion of the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. The trade was a 7.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by 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.