Occam Crest Management LP Has $4.36 Million Stock Holdings in Nextpower Inc. $NXT

Occam Crest Management LP increased its holdings in Nextpower Inc. (NASDAQ:NXT) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Nextpower makes up 3.0% of Occam Crest Management LP’s portfolio, making the stock its 13th biggest position. Occam Crest Management LP’s holdings in Nextpower were worth $4,356,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NXT. Westfield Capital Management Co. LP grew its stake in Nextpower by 6.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after buying an additional 80,493 shares during the last quarter. Legal & General Group Plc grew its stake in Nextpower by 4.6% during the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after buying an additional 18,380 shares during the last quarter. Andrew Hill Investment Advisors Inc. grew its stake in Nextpower by 31.2% during the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock worth $6,100,000 after buying an additional 16,666 shares during the last quarter. American Century Companies Inc. grew its stake in Nextpower by 23.4% during the third quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after buying an additional 128,296 shares during the last quarter. Finally, Assetmark Inc. grew its stake in Nextpower by 342,159.2% during the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock worth $37,268,000 after buying an additional 427,699 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Transactions at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the transaction, the president directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. The trade was a 12.81% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NXT shares. Roth Mkm reaffirmed a “buy” rating and set a $155.00 price objective on shares of Nextpower in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. upped their price objective on shares of Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. KeyCorp increased their price target on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Jefferies Financial Group increased their price target on shares of Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Nextpower has an average rating of “Moderate Buy” and a consensus price target of $147.77.

Nextpower Stock Performance

Shares of NXT stock opened at $125.83 on Tuesday. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $163.13. The stock has a market cap of $18.91 billion, a PE ratio of 32.85, a PEG ratio of 2.89 and a beta of 1.73. The firm’s 50 day moving average price is $124.65 and its two-hundred day moving average price is $111.59.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, sell-side analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current fiscal 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.