Nextpower Inc. $NXT Shares Sold by BlackBarn Capital Partners LP

BlackBarn Capital Partners LP lowered its holdings in Nextpower Inc. (NASDAQ:NXT) by 13.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,000 shares of the company’s stock after selling 50,000 shares during the quarter. Nextpower accounts for 1.0% of BlackBarn Capital Partners LP’s holdings, making the stock its 9th largest holding. BlackBarn Capital Partners LP owned 0.21% of Nextpower worth $16,855,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Nextpower by 703.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 577 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in shares of Nextpower by 122.3% in the 2nd 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 boosted its position in shares of Nextpower by 796.0% during the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after purchasing an additional 804 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Nextpower during the 1st quarter worth approximately $40,000. Finally, Hantz Financial Services Inc. increased its holdings in Nextpower by 1,737.8% in the 2nd 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 last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on NXT. Bank of America upped their price target on Nextpower from $94.00 to $102.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. raised their target price on Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Citigroup raised Nextpower from a “neutral” rating to a “buy” rating and lifted their target price for the company from $66.00 to $114.00 in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research report on Monday. Finally, The Goldman Sachs Group boosted their price target on shares of Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.76.

Insiders Place Their Bets

In other Nextpower news, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction on Monday, November 17th. The shares were sold at an average price of $91.28, for a total value of $4,357,981.04. Following the transaction, the chief executive officer directly owned 624,882 shares in the company, valued at approximately $57,039,228.96. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total transaction of $918,500.00. Following the sale, the director owned 16,777 shares of the company’s stock, valued at $1,540,967.45. This trade represents a 37.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 101,185 shares of company stock worth $8,940,699. Corporate insiders own 0.56% of the company’s stock.

Nextpower Price Performance

Shares of NASDAQ NXT opened at $86.75 on Friday. The business has a 50-day moving average of $91.89 and a two-hundred day moving average of $73.13. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 3.24 and a beta of 2.35. Nextpower Inc. has a 1 year low of $33.29 and a 1 year high of $112.74.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The company 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. As a group, equities research analysts expect that Nextpower Inc. will post 3.29 earnings per share for the current year.

Nextpower Company 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.