Norges Bank Takes $170.92 Million Position in Nextpower Inc. $NXT

Norges Bank bought a new stake in Nextpower Inc. (NASDAQ:NXT) during the 4th quarter, HoldingsChannel.com reports. The firm bought 1,962,097 shares of the company’s stock, valued at approximately $170,918,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 223 shares in the last quarter. Huntington National Bank lifted its position in shares of Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after acquiring an additional 317 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after acquiring an additional 182 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Nextpower in the third quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Nextpower by 511.1% in the third 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 last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

More Nextpower News

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Glj Research raised its price target on Nextpower to $149.44 and kept a buy rating, reinforcing bullish sentiment on the stock. Benzinga
• Positive Sentiment: Northland Securities lifted multiple EPS estimates for Nextpower and maintained an Outperform rating with a $162 target, signaling confidence in longer-term earnings growth.
• Neutral Sentiment: Nextpower’s lawsuit against GameChange could strengthen its intellectual property position, but it also introduces a legal fight that may take time to resolve. PV Tech
• Negative Sentiment: COO Nicholas Marco Miller and CFO Charles D. Boynton sold shares, which can temper investor enthusiasm even though both trades were made under pre-arranged plans.

Nextpower Stock Performance

NASDAQ:NXT opened at $146.47 on Thursday. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The stock has a market cap of $22.01 billion, a PE ratio of 38.24, a P/E/G ratio of 3.63 and a beta of 1.73. The stock has a 50 day moving average price of $123.76 and a 200 day moving average price of $109.53.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million during 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, analysts predict that Nextpower Inc. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on NXT. Royal Bank Of Canada increased their price target on Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Loop Capital set a $135.00 price target on Nextpower in a report on Wednesday, May 13th. Barclays increased their price target on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Wells Fargo & Company increased their price target on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Robert W. Baird increased their price target on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and an average target price of $147.27.

Insider Activity at Nextpower

In other Nextpower news, COO Nicholas Marco Miller sold 22,427 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the completion of the sale, the chief operating officer owned 186,194 shares of the company’s stock, valued at $29,046,264. This trade represents a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the sale, the insider directly owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 228,030 shares of company stock valued at $28,812,757 over the last 90 days. Corporate 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.