E. Ohman J or Asset Management AB Has $4.77 Million Stock Holdings in Nextpower Inc. $NXT

E. Ohman J or Asset Management AB lowered its holdings in Nextpower Inc. (NASDAQ:NXT) by 22.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,598 shares of the company’s stock after selling 11,500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Nextpower were worth $4,774,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NXT. Vanguard Group Inc. increased its position in Nextpower by 2.0% during the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock worth $1,048,279,000 after acquiring an additional 283,981 shares during the period. State Street Corp boosted its holdings in Nextpower by 0.6% in the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after purchasing an additional 31,689 shares during the period. Geode Capital Management LLC boosted its holdings in Nextpower by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after purchasing an additional 236,593 shares during the period. Invesco Ltd. grew its position in Nextpower by 5.1% in the 4th quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock worth $249,541,000 after purchasing an additional 139,211 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Nextpower by 4.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock worth $211,627,000 after purchasing an additional 111,782 shares during the period. 67.41% of the stock is owned by institutional investors.

Insider Activity at Nextpower

In related news, insider Bruce Ledesma sold 3,248 shares of the firm’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 $437,570.56. Following the completion of the transaction, the insider owned 246,130 shares in the company, valued at $33,158,633.60. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Nicholas Marco Miller sold 22,427 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total value of $3,498,612.00. Following the completion of the sale, the chief operating officer directly owned 186,194 shares in the company, valued at approximately $29,046,264. This represents a 10.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 168,574 shares of company stock valued at $22,559,770. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

NASDAQ:NXT opened at $125.90 on Friday. The company has a 50-day moving average of $125.73 and a 200-day moving average of $112.40. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share 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 business 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. Sell-side analysts forecast that Nextpower Inc. will post 3.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. Roth Mkm reissued a “buy” rating and set a $155.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. Mizuho boosted their price target on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. KeyCorp upped their price target on Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their price objective on Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.77.

About Nextpower

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.