Nextpower Inc. $NXT Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its stake in Nextpower Inc. (NASDAQ:NXT) by 3.7% during the 2nd quarter, Holdings Channel reports. The fund owned 487,762 shares of the company’s stock after acquiring an additional 17,595 shares during the period. Rhumbline Advisers’ holdings in Nextpower were worth $26,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new position in Nextpower in the 1st quarter valued at about $783,000. Picton Mahoney Asset Management purchased a new position in shares of Nextpower during the first quarter valued at approximately $423,000. Banque Cantonale Vaudoise acquired a new stake in Nextpower during the first quarter worth approximately $1,061,000. Natixis Advisors LLC acquired a new stake in Nextpower during the first quarter worth approximately $458,000. Finally, Goodman Financial Corp purchased a new stake in Nextpower in the 1st quarter worth approximately $14,597,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

NXT has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on Nextpower from $84.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. raised their price target on Nextpower from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. BMO Capital Markets lifted their price target on Nextpower from $89.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Nextpower in a report on Tuesday. Finally, Mizuho set a $76.00 target price on shares of Nextpower in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.76.

Insider Buying and Selling at Nextpower

In other news, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total value of $918,500.00. Following the transaction, the director owned 16,777 shares of the company’s stock, valued at approximately $1,540,967.45. This trade represents a 37.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Howard Wenger sold 5,217 shares of Nextpower stock in a transaction on Monday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $391,275.00. Following the transaction, the president owned 409,039 shares in the company, valued at $30,677,925. The trade was a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 67,460 shares of company stock worth $5,970,201 over the last three months. 0.56% of the stock is currently owned by insiders.

Nextpower Price Performance

NASDAQ NXT opened at $90.67 on Thursday. The firm has a market capitalization of $13.45 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.12 and a beta of 2.31. Nextpower Inc. has a 1-year low of $33.29 and a 1-year high of $112.74. The business’s 50-day simple moving average is $88.18 and its 200-day simple moving average is $70.51.

Nextpower (NASDAQ:NXT) last posted its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) 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 firm had revenue of $905.27 million during the quarter, compared to the consensus estimate of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. On average, equities research analysts expect that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Nextpower Profile

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.