Catalyst Capital Advisors LLC Invests $2.39 Million in Nextpower Inc. $NXT

Catalyst Capital Advisors LLC purchased a new position in Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 19,850 shares of the company’s stock, valued at approximately $2,393,000.

Several other large investors also recently made changes to their positions in NXT. Jupiter Asset Management Ltd. boosted its holdings in Nextpower by 0.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after buying an additional 86 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after acquiring an additional 103 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Nextpower by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after acquiring an additional 119 shares during the last quarter. Signaturefd LLC raised its position in shares of Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after purchasing an additional 126 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Nextpower by 16.8% during the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Trading Down 3.5%

NXT opened at $103.10 on Friday. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.12 and a beta of 1.86. Nextpower Inc. has a 1 year low of $52.61 and a 1 year high of $163.13. The stock has a fifty day moving average price of $123.89 and a 200 day moving average price of $115.59.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The firm 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. As a group, sell-side analysts forecast that Nextpower Inc. will post 3.75 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 931,419 shares in the company, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 Nextpower stock in a transaction 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 owned 246,130 shares in the company, valued at $33,158,633.60. This 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 90 days, insiders have sold 168,574 shares of company stock worth $22,559,770. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

NXT has been the topic of several recent analyst reports. Robert W. Baird boosted their price objective on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Mizuho boosted their price target on shares of Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Jefferies Financial Group set a $153.00 price objective on shares of Nextpower in a research note on Friday, June 26th. Weiss Ratings downgraded shares of Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $140.00 target price on shares of Nextpower in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.10.

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.