Nextpower Inc. $NXT Shares Sold by Lido Advisors LLC

Lido Advisors LLC decreased its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 47.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,535 shares of the company’s stock after selling 6,912 shares during the quarter. Lido Advisors LLC’s holdings in Nextpower were worth $908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nextpower by 19.6% during 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 worth $18,436,000 after purchasing an additional 71,842 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Nextpower in the 2nd quarter valued at $223,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after buying an additional 724 shares in the last quarter. Cerity Partners LLC grew its position in shares of Nextpower by 154.0% in the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after buying an additional 11,239 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Nextpower by 36.5% in the 2nd 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 last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on NXT. Barclays boosted their price target on shares of Nextpower from $142.00 to $147.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Glj Research lifted their target price on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Loop Capital set a $135.00 target price on Nextpower in a report on Wednesday, May 13th. Jefferies Financial Group set a $153.00 target price on Nextpower in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised their price target on Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.42.

Insider Activity at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of Nextpower 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 directly owned 358,500 shares in the company, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. The trade was a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 worth $22,559,770 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Nextpower Stock Performance

Shares of Nextpower stock opened at $95.35 on Wednesday. Nextpower Inc. has a 1 year low of $52.61 and a 1 year high of $163.13. The company has a market capitalization of $14.33 billion, a P/E ratio of 24.90, a PEG ratio of 2.07 and a beta of 1.86. The company’s fifty day moving average is $119.45 and its two-hundred day moving average is $116.40.

Nextpower (NASDAQ:NXT) last announced its 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 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. As a group, equities analysts expect that Nextpower Inc. will post 3.73 earnings per share 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.