Axiom Investors LLC DE Makes New Investment in Nextpower Inc. $NXT

Axiom Investors LLC DE purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 145,640 shares of the company’s stock, valued at approximately $12,687,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Nextpower by 2.0% during the third quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock worth $1,048,279,000 after buying an additional 283,981 shares during the last quarter. State Street Corp raised its stake in shares of Nextpower by 0.6% during the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after buying an additional 31,689 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Nextpower by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock worth $350,385,000 after buying an additional 236,593 shares during the last quarter. Invesco Ltd. raised its stake in shares of Nextpower by 9.9% during the third quarter. Invesco Ltd. now owns 2,725,449 shares of the company’s stock worth $201,656,000 after buying an additional 245,412 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Nextpower by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock worth $174,459,000 after buying an additional 67,362 shares during the last quarter. 67.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Loop Capital set a $135.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. TD Cowen boosted their price target on shares of Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Northland Securities boosted their price target on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. 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 research note on Friday, May 29th. Finally, BNP Paribas Exane boosted their price target on shares of Nextpower from $177.00 to $182.00 and gave the stock 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.77.

Insider Activity

In related news, COO Nicholas Marco Miller sold 24,511 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $3,513,093.44. Following the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders have sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by company insiders.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $119.27 on Wednesday. The stock has a market cap of $17.92 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.98 and a beta of 1.73. The firm has a 50 day moving average price of $124.40 and a 200 day moving average price of $110.68. Nextpower Inc. has a 52-week low of $51.69 and a 52-week high of $163.13.

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, beating analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current fiscal 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.