Nextpower Inc. $NXT Position Trimmed by Erste Asset Management GmbH

Erste Asset Management GmbH lessened its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 719,647 shares of the company’s stock after selling 20,749 shares during the period. Erste Asset Management GmbH’s holdings in Nextpower were worth $64,945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after acquiring an additional 71,842 shares in the last quarter. M&T Bank Corp purchased a new position in Nextpower during the 2nd quarter valued at about $223,000. EverSource Wealth Advisors LLC grew its stake in Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after acquiring an additional 724 shares in the last quarter. Cerity Partners LLC grew its stake in Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after acquiring an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after acquiring an additional 59,573 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Activity

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the sale, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 168,574 shares of company stock valued at $22,559,770. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NXT shares. TD Cowen boosted their price target on Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Citigroup boosted their price target on Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. KeyCorp boosted their price target on Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Roth Mkm reissued a “buy” rating and issued a $155.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Finally, Susquehanna boosted their price target on Nextpower from $161.00 to $180.00 and gave the company a “positive” rating in a research note on Monday, June 1st. Twenty equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.27.

Nextpower Price Performance

Shares of Nextpower stock opened at $131.57 on Monday. The stock has a market capitalization of $19.77 billion, a P/E ratio of 34.35, a PEG ratio of 3.12 and a beta of 1.73. The stock has a 50 day moving average price of $124.30 and a two-hundred day moving average price of $110.23. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The firm 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. Sell-side analysts anticipate that Nextpower Inc. will post 3.69 earnings per share for the current year.

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.