CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 20,000 Shares of Nextpower Inc. $NXT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 23.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 107,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Nextpower were worth $7,917,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NXT. Norges Bank acquired a new position in Nextpower during the 2nd quarter valued at about $140,772,000. Encompass Capital Advisors LLC boosted its position in shares of Nextpower by 72.5% during the first quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after buying an additional 1,105,617 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Nextpower during the second quarter worth $58,122,000. Amundi grew its holdings in Nextpower by 61.1% during the first quarter. Amundi now owns 947,470 shares of the company’s stock worth $38,920,000 after buying an additional 359,223 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Nextpower by 144.6% in the 2nd quarter. American Century Companies Inc. now owns 547,590 shares of the company’s stock valued at $29,772,000 after buying an additional 323,717 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NXT. Barclays lifted their price objective on shares of Nextpower from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Roth Capital reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Nextpower in a research report on Thursday, November 13th. Citigroup upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $114.00 in a research note on Tuesday, October 21st. Wells Fargo & Company boosted their target price on Nextpower from $72.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Susquehanna upped their target price on Nextpower from $76.00 to $100.00 and gave the company a “positive” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.76.

Insider Buying and Selling at Nextpower

In related news, Director William D. Watkins sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total transaction of $918,500.00. Following the sale, the director directly owned 16,777 shares in the company, valued at approximately $1,540,967.45. This represents a 37.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO David P. Bennett sold 33,725 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This trade represents a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 91,468 shares of company stock valued at $8,246,979 over the last three months. 0.56% of the stock is currently owned by insiders.

Nextpower Price Performance

NASDAQ:NXT opened at $87.04 on Wednesday. The company has a market capitalization of $12.92 billion, a P/E ratio of 22.61, a P/E/G ratio of 3.13 and a beta of 2.35. The business has a fifty day simple moving average of $92.90 and a two-hundred day simple moving average of $76.01. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $112.74.

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