Clare Market Investments LLC Acquires Shares of 7,940 Nextpower Inc. $NXT

Clare Market Investments LLC bought a new position in Nextpower Inc. (NASDAQ:NXT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,940 shares of the company’s stock, valued at approximately $957,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in shares of Nextpower by 0.6% in the third quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after acquiring an additional 31,689 shares during the last quarter. Geode Capital Management LLC grew its stake in Nextpower by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after purchasing an additional 236,593 shares in the last quarter. Invesco Ltd. grew its stake in Nextpower by 5.1% in the fourth quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock valued at $249,541,000 after purchasing an additional 139,211 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Nextpower by 4.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock worth $211,627,000 after purchasing an additional 111,782 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Nextpower by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock worth $174,459,000 after purchasing an additional 67,362 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was 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 in the company, valued at approximately $125,480,767.68. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $156.00, for a total value of $3,498,612.00. Following the transaction, the chief operating officer owned 186,194 shares of the company’s stock, valued at $29,046,264. The trade was a 10.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 168,574 shares of company stock valued at $22,559,770 over the last quarter. 0.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NXT has been the subject of several research reports. Wolfe Research reiterated an “outperform” rating and set a $160.00 price target on shares of Nextpower in a report on Friday, May 29th. Mizuho increased their price objective on Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. BNP Paribas Exane lifted their target price on shares of Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Northland Securities boosted their target price on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Nextpower in a research note on Thursday, May 14th. Twenty equities 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 $148.69.

Nextpower Price Performance

NXT stock opened at $113.21 on Tuesday. The company has a 50 day moving average price of $126.37 and a 200 day moving average price of $114.66. The stock has a market capitalization of $17.01 billion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.66 and a beta of 1.86. Nextpower Inc. has a fifty-two week low of $52.61 and a fifty-two week high of $163.13.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data 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 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, equities analysts expect that Nextpower Inc. will post 3.71 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.