Strategic Investment Advisors MI Invests $1.47 Million in Nextpower Inc. $NXT

Strategic Investment Advisors MI purchased a new stake in Nextpower Inc. (NASDAQ:NXT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,156 shares of the company’s stock, valued at approximately $1,465,000.

A number of other institutional investors also recently made changes to their positions in the business. Altshuler Shaham Ltd boosted its stake in Nextpower by 47.8% during the 1st quarter. Altshuler Shaham Ltd now owns 19,836 shares of the company’s stock valued at $2,391,000 after acquiring an additional 6,412 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Nextpower by 157.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,385 shares of the company’s stock valued at $408,000 after acquiring an additional 2,071 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Nextpower by 24.0% during the first quarter. California State Teachers Retirement System now owns 172,977 shares of the company’s stock worth $20,852,000 after purchasing an additional 33,497 shares during the period. Quantinno Capital Management LP raised its stake in Nextpower by 30.0% during the first quarter. Quantinno Capital Management LP now owns 19,826 shares of the company’s stock worth $2,390,000 after acquiring an additional 4,577 shares during the period. Finally, SummitTX Capital L.P. bought a new stake in shares of Nextpower in the 1st quarter worth approximately $503,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Nextpower news, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the sale, the president owned 426,467 shares of the company’s stock, valued at $55,547,326.75. This trade represents a 12.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. This represents a 1.24% 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. In the last three months, insiders sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NXT shares. Jefferies Financial Group set a $153.00 target price on Nextpower in a research note on Friday, June 26th. Wells Fargo & Company raised their price target on shares of Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Royal Bank Of Canada set a $179.00 price target on Nextpower in a report on Tuesday, July 21st. Needham & Company LLC reiterated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a research report on Friday, May 29th. Finally, KeyCorp increased their price objective on Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nextpower currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.42.

Nextpower Trading Down 2.8%

NXT stock opened at $92.67 on Thursday. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13. The firm has a 50-day moving average of $118.79 and a two-hundred day moving average of $116.43. The firm has a market capitalization of $13.93 billion, a PE ratio of 24.20, a P/E/G ratio of 1.90 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last released its earnings results 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 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. On average, equities research analysts anticipate that Nextpower Inc. will post 3.73 earnings per share for the current year.

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.