Nextpower Inc. $NXT Shares Sold by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC cut its position in Nextpower Inc. (NASDAQ:NXT) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 484,262 shares of the company’s stock after selling 15,575 shares during the period. Nextpower accounts for 1.7% of Encompass Capital Advisors LLC’s holdings, making the stock its 12th largest position. Encompass Capital Advisors LLC’s holdings in Nextpower were worth $58,378,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Quantinno Capital Management LP lifted its stake in Nextpower by 30.0% in the 1st quarter. Quantinno Capital Management LP now owns 19,826 shares of the company’s stock worth $2,390,000 after purchasing an additional 4,577 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in shares of Nextpower in the first quarter valued at approximately $503,000. Lazard Asset Management LLC increased its holdings in shares of Nextpower by 22.3% in the first quarter. Lazard Asset Management LLC now owns 34,353 shares of the company’s stock valued at $4,141,000 after purchasing an additional 6,272 shares during the last quarter. Castleark Management LLC increased its holdings in shares of Nextpower by 8.1% in the first quarter. Castleark Management LLC now owns 114,074 shares of the company’s stock valued at $13,752,000 after purchasing an additional 8,590 shares during the last quarter. Finally, Gateway Wealth Partners LLC acquired a new stake in shares of Nextpower in the first quarter valued at approximately $412,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextpower Stock Performance

NXT stock opened at $103.73 on Tuesday. The firm has a market cap of $15.59 billion, a PE ratio of 27.08, a PEG ratio of 2.00 and a beta of 1.86. The firm’s 50 day moving average price is $120.08 and its 200-day moving average price is $116.36. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13.

Nextpower (NASDAQ:NXT) last issued 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. The company had revenue of $880.52 million during the quarter, compared to analyst estimates 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. Equities research analysts predict that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on NXT. BMO Capital Markets boosted their price objective on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Guggenheim upgraded Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, July 15th. KeyCorp lifted their price target on Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Zacks Research raised shares of Nextpower from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.62.

Insider Buying and Selling

In other news, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the transaction, the chief financial officer owned 358,500 shares of the company’s stock, valued at $54,416,715. This represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.00, for a total value of $3,498,612.00. Following the transaction, the chief operating officer owned 186,194 shares of the company’s stock, valued at approximately $29,046,264. This represents a 10.75% 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. Over the last three months, insiders have sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is currently owned by company 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.