Bleakley Financial Group LLC Invests $2.42 Million in Nextpower Inc. $NXT

Bleakley Financial Group LLC bought a new stake in Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,072 shares of the company’s stock, valued at approximately $2,420,000.

Other large investors also recently made changes to their positions in the company. State of Michigan Retirement System lifted its holdings in Nextpower by 1.7% during the 1st quarter. State of Michigan Retirement System now owns 35,700 shares of the company’s stock worth $4,304,000 after purchasing an additional 600 shares during the last quarter. AMF Tjanstepension AB grew its holdings in Nextpower by 27.0% in the 1st quarter. AMF Tjanstepension AB now owns 59,117 shares of the company’s stock valued at $7,127,000 after buying an additional 12,582 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new position in Nextpower in the 1st quarter valued at $2,378,000. International Assets Investment Management LLC bought a new position in Nextpower during the 1st quarter worth $96,000. Finally, Diversify Wealth Management LLC bought a new position in Nextpower during the 1st quarter worth $279,000. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

NXT opened at $106.85 on Friday. The firm has a market cap of $16.06 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.16 and a beta of 1.86. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The business’s fifty day moving average is $124.35 and its 200-day moving average is $115.67.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The company had revenue of $880.52 million for 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, research analysts predict that Nextpower Inc. will post 3.77 earnings per share for the current fiscal year.

Insider Transactions at Nextpower

In other news, CEO Daniel S. Shugar sold 26,077 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 $3,513,093.44. Following the completion of the transaction, the chief executive officer directly owned 931,419 shares in the company, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the sale, the insider directly 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 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. Over the last quarter, insiders sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their target price 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. The Goldman Sachs Group reaffirmed a “buy” rating and set a $168.00 price target on shares of Nextpower in a research report on Wednesday, July 1st. Citigroup lifted their price objective on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Susquehanna cut their price objective on shares of Nextpower from $180.00 to $168.00 and set a “positive” rating for the company in a report on Friday, July 10th. Finally, Mizuho increased their target price on shares of Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.10.

Nextpower 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.