Sei Investments Co. Acquires 26,965 Shares of Nextpower Inc. $NXT

Sei Investments Co. increased its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,856 shares of the company’s stock after buying an additional 26,965 shares during the period. Sei Investments Co.’s holdings in Nextpower were worth $37,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in shares of Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Signature Equity Partners LLC raised its position in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares during 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 worth $33,000 after purchasing an additional 317 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In related news, COO Nicholas Marco Miller sold 22,427 shares of the company’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 completion of the sale, the chief operating officer owned 186,194 shares in the company, valued at approximately $29,046,264. This represents a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the transaction, the chief executive officer directly owned 931,419 shares in the company, valued at $125,480,767.68. The trade was a 2.72% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 168,574 shares of company stock valued at $22,559,770 over the last quarter. 0.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on NXT. Wolfe Research reiterated an “outperform” rating and issued a $160.00 price objective on shares of Nextpower in a research report on Friday, May 29th. JPMorgan Chase & Co. boosted their target price on Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Roth Capital reaffirmed a “buy” rating and set a $155.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Mizuho raised their price target on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Finally, Loop Capital set a $135.00 price objective on Nextpower in a research report on Wednesday, May 13th. Two investment 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. Based on data from MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average price target of $150.62.

Nextpower Stock Performance

NXT opened at $100.03 on Monday. The company has a fifty day moving average price of $120.70 and a two-hundred day moving average price of $116.27. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The firm has a market capitalization of $15.03 billion, a PE ratio of 26.12, a P/E/G ratio of 2.00 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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 analysts forecast that Nextpower Inc. will post 3.73 EPS for the current year.

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.