Swedbank AB Buys 22,500 Shares of Nextpower Inc. $NXT

Swedbank AB boosted its stake in Nextpower Inc. (NASDAQ:NXT) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,500 shares of the company’s stock after buying an additional 22,500 shares during the quarter. Swedbank AB owned approximately 0.09% of Nextpower worth $10,100,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bryce Point Capital LLC bought a new position in Nextpower in the 2nd quarter worth approximately $998,000. Ethic Inc. boosted its position in Nextpower by 65.1% in the 2nd quarter. Ethic Inc. now owns 8,469 shares of the company’s stock valued at $494,000 after buying an additional 3,339 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Nextpower by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock valued at $61,900,000 after buying an additional 35,642 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Nextpower in the 3rd quarter valued at $1,278,000. Finally, Raymond James Financial Inc. raised its position in shares of Nextpower by 22.2% during the first quarter. Raymond James Financial Inc. now owns 157,634 shares of the company’s stock worth $6,643,000 after acquiring an additional 28,683 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total transaction of $918,500.00. Following the sale, the director owned 16,777 shares of the company’s stock, valued at approximately $1,540,967.45. This trade represents a 37.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Howard Wenger sold 5,217 shares of Nextpower stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $75.00, for a total value of $391,275.00. Following the transaction, the president owned 409,039 shares in the company, valued at approximately $30,677,925. This represents a 1.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 96,685 shares of company stock worth $8,638,254 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $91.24 on Friday. The firm’s 50 day simple moving average is $92.92 and its 200 day simple moving average is $75.50. Nextpower Inc. has a fifty-two week low of $36.06 and a fifty-two week high of $112.74. The company has a market capitalization of $13.54 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 3.16 and a beta of 2.35.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. The firm had revenue of $905.27 million during the quarter, compared to analysts’ expectations of $839.53 million. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Equities research analysts expect that Nextpower Inc. will post 3.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

NXT has been the topic of several research reports. Cowen reaffirmed a “hold” rating on shares of Nextpower in a research note on Friday, October 24th. Jefferies Financial Group cut Nextpower from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Susquehanna raised their target price on shares of Nextpower from $76.00 to $100.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Needham & Company LLC initiated coverage on shares of Nextpower in a research note on Wednesday, October 22nd. They set a “buy” rating and a $102.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Nextpower from $89.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.76.

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.