Encompass Capital Advisors LLC Trims Position in Nextpower Inc. $NXT

Encompass Capital Advisors LLC trimmed its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 484,262 shares of the company’s stock after selling 15,575 shares during the period. Nextpower makes up about 1.7% of Encompass Capital Advisors LLC’s portfolio, making the stock its 12th biggest position. Encompass Capital Advisors LLC owned about 0.33% of Nextpower worth $58,378,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NXT. Legal & General Group Plc grew its position in Nextpower by 4.6% during the 4th quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after purchasing an additional 18,380 shares during the period. Assetmark Inc. lifted its holdings in shares of Nextpower by 342,159.2% in the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock valued at $37,268,000 after buying an additional 427,699 shares during the period. Andrew Hill Investment Advisors Inc. lifted its holdings in shares of Nextpower by 31.2% in the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after buying an additional 16,666 shares during the period. Azzad Asset Management Inc. ADV purchased a new stake in shares of Nextpower in the fourth quarter worth about $988,000. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Nextpower by 215.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company’s stock worth $2,091,000 after buying an additional 16,388 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Royal Bank Of Canada set a $179.00 price target on Nextpower in a report on Tuesday, July 21st. Roth Capital reaffirmed a “buy” rating and set a $155.00 price objective on shares of Nextpower in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Truist Financial started coverage on shares of Nextpower in a research note on Monday, July 13th. They issued a “buy” rating and a $140.00 target price for the company. Finally, Wolfe Research reissued an “outperform” rating and set a $160.00 price target on shares of Nextpower in a report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.62.

Insider Buying and Selling

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the transaction, the insider directly owned 246,130 shares in the company, valued at approximately $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the transaction, the chief operating officer directly owned 186,194 shares in the company, valued at approximately $29,046,264. The trade was a 10.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 168,574 shares of company stock worth $22,559,770 in the last 90 days. 0.84% of the stock is owned by insiders.

Nextpower Trading Up 3.7%

Shares of NXT opened at $103.73 on Tuesday. The firm has a market cap of $15.59 billion, a P/E ratio of 27.08, a PEG ratio of 2.00 and a beta of 1.86. Nextpower Inc. has a 12 month low of $52.61 and a 12 month high of $163.13. The stock’s 50 day moving average is $120.08 and its two-hundred day moving average is $116.36.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities research analysts forecast that Nextpower Inc. will post 3.73 EPS for the current year.

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.