Magnetar Financial LLC Purchases Shares of 10,414 Nextpower Inc. $NXT

Magnetar Financial LLC acquired a new stake in Nextpower Inc. (NASDAQ:NXT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,414 shares of the company’s stock, valued at approximately $566,000.

Several other institutional investors and hedge funds have also modified their holdings of NXT. Northwestern Mutual Wealth Management Co. increased its position in shares of Nextpower by 703.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 577 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Nextpower by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after acquiring an additional 324 shares during the last quarter. Summit Securities Group LLC grew its stake in shares of Nextpower by 796.0% in the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock valued at $38,000 after buying an additional 804 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Nextpower during the first quarter valued at about $40,000. Finally, Hantz Financial Services Inc. raised its position in Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after purchasing an additional 782 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NXT shares. UBS Group upped their price objective on Nextpower to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Barclays increased their target price on Nextpower from $92.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Northland Capmk downgraded Nextpower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Needham & Company LLC started coverage on shares of Nextpower in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $102.00 price target on the stock. Finally, Wells Fargo & Company upped their price objective on shares of Nextpower from $72.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.76.

Insiders Place Their Bets

In related news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $67.21, for a total value of $302,445.00. Following the sale, the chief financial officer directly owned 295,059 shares of the company’s stock, valued at approximately $19,830,915.39. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Howard Wenger sold 5,217 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $75.00, for a total value of $391,275.00. Following the completion of the transaction, the president directly owned 409,039 shares in the company, valued at $30,677,925. This trade represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 67,460 shares of company stock valued at $5,970,201. 0.56% of the stock is owned by company insiders.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $86.86 on Tuesday. Nextpower Inc. has a 12 month low of $33.29 and a 12 month high of $112.74. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 3.02 and a beta of 2.30. The business’s 50 day simple moving average is $87.28 and its 200-day simple moving average is $70.06.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The business had revenue of $905.27 million during the quarter, compared to analysts’ expectations of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. On average, equities analysts anticipate that Nextpower Inc. will post 3.29 earnings per share for the current year.

About Nextpower

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.