Nextpower Inc. $NXT Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 335.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,669 shares of the company’s stock after acquiring an additional 154,582 shares during the quarter. SG Americas Securities LLC owned 0.14% of Nextpower worth $24,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its stake in Nextpower by 0.6% during the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after purchasing an additional 31,689 shares in the last quarter. Geode Capital Management LLC raised its position in Nextpower by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after purchasing an additional 236,593 shares in the last quarter. Invesco Ltd. raised its position in Nextpower by 5.1% in the 4th quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock valued at $249,541,000 after purchasing an additional 139,211 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Nextpower by 4.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock valued at $211,627,000 after buying an additional 111,782 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Nextpower by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock valued at $174,459,000 after buying an additional 67,362 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Trading Down 3.3%

NXT stock opened at $116.67 on Thursday. The stock has a market cap of $17.53 billion, a P/E ratio of 30.46, a PEG ratio of 2.86 and a beta of 1.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13. The company’s 50 day moving average is $126.20 and its two-hundred day moving average is $113.30.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business 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. On average, equities research analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current year.

Insider Buying and Selling

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the transaction, the insider owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 sale, the chief executive officer owned 931,419 shares in the company, valued at $125,480,767.68. This trade represents 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 have sold a total of 168,574 shares of company stock valued at $22,559,770 over the last ninety days. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

NXT has been the topic of a number of recent research reports. UBS Group restated a “buy” rating and set a $170.00 target price on shares of Nextpower in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company boosted their price target on shares of Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Citigroup increased their price objective on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $140.00 price objective on shares of Nextpower in a report on Thursday, May 14th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and a consensus price target of $147.77.

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.