Clare Market Investments LLC Invests $957,000 in Nextpower Inc. $NXT

Clare Market Investments LLC bought a new position in Nextpower Inc. (NASDAQ:NXT) in the first quarter, HoldingsChannel.com reports. The firm bought 7,940 shares of the company’s stock, valued at approximately $957,000.

Several other institutional investors have also recently bought and sold shares of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Nextpower by 19.6% in the first 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 during the last quarter. M&T Bank Corp bought a new position in Nextpower during the second quarter worth about $223,000. EverSource Wealth Advisors LLC increased its position in Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after buying an additional 724 shares during the last quarter. Cerity Partners LLC increased its position in Nextpower by 154.0% during the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after buying an additional 11,239 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Nextpower by 36.5% in the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after buying an additional 59,573 shares during the period. Institutional investors own 67.41% of the company’s stock.

Insider Activity

In other news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the sale, the chief operating officer owned 221,533 shares in the company, valued at $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NXT shares. Barclays reiterated an “overweight” rating on shares of Nextpower in a research note on Tuesday. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Nextpower in a research report on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $168.00 price objective on shares of Nextpower in a report on Wednesday, July 1st. UBS Group restated a “buy” rating and set a $170.00 target price on shares of Nextpower in a research note on Friday, May 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $149.00 target price on shares of Nextpower in a report on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.69.

Nextpower Stock Down 1.6%

Shares of NASDAQ:NXT opened at $113.21 on Tuesday. Nextpower Inc. has a twelve month low of $52.61 and a twelve month high of $163.13. The stock’s 50 day moving average is $126.37 and its 200-day moving average is $114.66. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.66 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities research analysts anticipate that Nextpower Inc. will post 3.71 earnings per share 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.