SEB Asset Management AB Buys New Holdings in Nextpower Inc. $NXT

SEB Asset Management AB purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 121,954 shares of the company’s stock, valued at approximately $14,702,000.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its stake in Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock valued at $398,932,000 after buying an additional 31,689 shares during the period. Geode Capital Management LLC boosted its stake in shares of Nextpower by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock worth $350,385,000 after acquiring an additional 236,593 shares during the period. Invesco Ltd. boosted its stake in shares of Nextpower by 5.1% during the 4th quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock worth $249,541,000 after acquiring an additional 139,211 shares during the period. 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 acquiring an additional 111,782 shares during the last quarter. Finally, Amundi increased its holdings in shares of Nextpower by 156.1% during the 3rd quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after acquiring an additional 1,287,071 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NXT shares. Royal Bank Of Canada increased their price target on Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Mizuho increased their price objective on shares of Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Guggenheim upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Wednesday, July 15th. Northland Securities lifted their target price on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Jefferies Financial Group set a $153.00 target price on shares of Nextpower in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.42.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $100.23 on Tuesday. The company’s 50 day simple moving average is $123.37 and its 200 day simple moving average is $115.86. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.86. Nextpower Inc. has a 1 year low of $52.61 and a 1 year high of $163.13.

Nextpower (NASDAQ:NXT) last released its earnings results 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. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million during 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, analysts anticipate that Nextpower Inc. will post 3.75 EPS for the current fiscal year.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 dated 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 directly owned 186,194 shares of the company’s stock, valued at approximately $29,046,264. The trade was a 10.75% 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 worth $22,559,770 over the last quarter. 0.84% of the stock is currently owned by company insiders.

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.