68,294 Shares in Nextpower Inc. $NXT Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 68,294 shares of the company’s stock, valued at approximately $8,233,000.

Several other large investors have also recently bought and sold shares of NXT. Westfield Capital Management Co. LP lifted its stake in Nextpower by 6.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after purchasing an additional 80,493 shares during the last quarter. Legal & General Group Plc raised its holdings in Nextpower by 4.6% during the fourth 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 in the last quarter. Andrew Hill Investment Advisors Inc. raised its stake in Nextpower by 31.2% during the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock worth $6,100,000 after acquiring an additional 16,666 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Nextpower by 23.4% during the third quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after purchasing an additional 128,296 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Nextpower by 342,159.2% during the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock worth $37,268,000 after purchasing an additional 427,699 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NXT shares. Barclays increased their price objective on Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Wolfe Research restated an “outperform” rating and issued a $160.00 price objective on shares of Nextpower in a research note on Friday, May 29th. UBS Group reaffirmed a “buy” rating and issued a $170.00 target price on shares of Nextpower in a report on Friday, May 29th. Robert W. Baird raised their price target on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 20th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.77.

Nextpower Stock Performance

Shares of Nextpower stock opened at $125.90 on Monday. The company has a market cap of $18.92 billion, a P/E ratio of 32.87, a PEG ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The firm has a fifty day moving average of $125.73 and a two-hundred day moving average of $112.58.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current year.

Insider Buying and Selling at Nextpower

In other news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the completion of the sale, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at $54,416,715. This trade represents a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the sale, the chief operating officer owned 221,533 shares in the company, valued at approximately $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 168,574 shares of company stock worth $22,559,770. 0.56% of the stock is currently owned by company insiders.

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.