Electron Capital Partners LLC Buys 65,311 Shares of Nextpower Inc. $NXT

Electron Capital Partners LLC increased its stake in Nextpower Inc. (NASDAQ:NXT) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 631,726 shares of the company’s stock after purchasing an additional 65,311 shares during the period. Nextpower makes up 2.6% of Electron Capital Partners LLC’s holdings, making the stock its 16th largest position. Electron Capital Partners LLC’s holdings in Nextpower were worth $55,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its holdings in shares of Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 223 shares in the last quarter. Huntington National Bank raised its position in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after buying an additional 317 shares during the last quarter. Foster Dykema Cabot & Partners LLC acquired a new stake in Nextpower in the 3rd quarter valued at approximately $36,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Nextpower by 511.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after acquiring an additional 414 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In other Nextpower news, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction 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 sale, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, COO Nicholas Marco Miller sold 24,511 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the sale, the chief operating officer owned 221,533 shares of the company’s stock, valued at approximately $28,205,581.56. This represents a 9.96% 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. Insiders sold 168,574 shares of company stock valued at $22,559,770 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of recent research reports. Loop Capital set a $135.00 price target on Nextpower in a research report on Wednesday, May 13th. Jefferies Financial Group lifted their price objective on shares of Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a report on Friday, May 29th. Citigroup increased their target price on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings raised shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company lifted their price target on shares of Nextpower from $143.00 to $151.00 and gave the company an “overweight” 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.com, Nextpower currently has an average rating of “Moderate Buy” and an average target price of $147.77.

Nextpower Stock Down 1.8%

NXT stock opened at $123.31 on Thursday. The business has a 50 day moving average price of $125.21 and a two-hundred day moving average price of $112.07. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 32.20, a P/E/G ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13.

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, topping analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million for 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. On average, equities research analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Nextpower 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.