Globeflex Capital L P Reduces Stake in Nextpower Inc. $NXT

Globeflex Capital L P lowered its holdings in Nextpower Inc. (NASDAQ:NXT) by 7.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 62,343 shares of the company’s stock after selling 4,677 shares during the quarter. Globeflex Capital L P’s holdings in Nextpower were worth $5,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Nextpower by 19.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after buying an additional 71,842 shares during the period. M&T Bank Corp purchased a new stake in Nextpower in the 2nd quarter worth approximately $223,000. EverSource Wealth Advisors LLC lifted its holdings in Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after buying an additional 724 shares during the period. Cerity Partners LLC lifted its holdings in Nextpower by 154.0% in the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after buying an additional 11,239 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Nextpower by 36.5% in the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after buying an additional 59,573 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Activity at Nextpower

In related news, insider Bruce Ledesma sold 3,248 shares of the firm’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 completion of the transaction, the insider owned 246,130 shares of the company’s stock, valued at $33,158,633.60. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, President Howard Wenger sold 62,670 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 228,030 shares of company stock worth $28,812,757 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Nextpower Stock Up 2.6%

NXT opened at $150.32 on Friday. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13. The stock has a market cap of $22.59 billion, a PE ratio of 39.25, a PEG ratio of 3.47 and a beta of 1.73. The business has a 50 day moving average of $124.27 and a 200-day moving average of $109.93.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current year.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $140.00 target price on Nextpower and gave the company a “buy” rating in a research note on Tuesday, April 14th. Jefferies Financial Group raised their target price on Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a research note on Friday, May 29th. BMO Capital Markets raised their target price on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Royal Bank Of Canada raised their target price on Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.27.

Trending Headlines about Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Northland Securities raised several forward earnings estimates for Nextpower and reiterated an Outperform rating with a $162 price target, signaling confidence in the company’s earnings growth trajectory.
• Positive Sentiment: Glj Research lifted its price target to $149.44 and maintained a buy rating, adding to the overall bullish analyst tone around the stock.
• Positive Sentiment: Nextpower’s patent infringement lawsuit against GameChange Solar may be viewed as a strategic move to protect its technology and market share in solar tracking systems. Nextpower sues GameChange over IP breach as GameChange announces rebranding
• Neutral Sentiment: GameChange said it will vigorously defend against the claims, which creates litigation uncertainty and could limit the near-term impact of the lawsuit.
• Negative Sentiment: Recent insider selling by the CFO and COO may slightly temper enthusiasm, though the trades were reported under pre-arranged 10b5-1 plans and do not necessarily signal a change in fundamentals.
• Negative Sentiment: Broader market weakness tied to China banking concerns and falling oil prices could weigh on sentiment across the renewable-energy and industrial space, even if company-specific news remains positive.

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.