Globeflex Capital L P Sells 4,677 Shares of Nextpower Inc. $NXT

Globeflex Capital L P decreased its holdings in Nextpower Inc. (NASDAQ:NXT) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,343 shares of the company’s stock after selling 4,677 shares during the period. Globeflex Capital L P’s holdings in Nextpower were worth $5,431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Nextpower by 19.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after purchasing an additional 71,842 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Nextpower in the 2nd quarter worth $223,000. EverSource Wealth Advisors LLC increased its holdings in shares of Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after purchasing an additional 724 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Nextpower by 154.0% in the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock worth $1,008,000 after purchasing an additional 11,239 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Nextpower by 36.5% in the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after purchasing an additional 59,573 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on NXT shares. Barclays lifted their target price on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. BNP Paribas Exane lifted their target price on Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. BMO Capital Markets lifted their target price on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Loop Capital set a $135.00 target price on Nextpower in a report on Wednesday, May 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $149.00 target price on shares of Nextpower in a report on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.27.

Nextpower Price Performance

Shares of NXT opened at $150.32 on Friday. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The firm has a market capitalization of $22.59 billion, a P/E ratio of 39.25, a PEG ratio of 3.47 and a beta of 1.73. The business has a fifty day moving average of $124.27 and a 200 day moving average of $109.93.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS 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 company had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts expect that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Trending Headlines about Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Northland Securities raised several forward earnings estimates for Nextpower and reiterated an Outperform rating with a $162 price target, signaling confidence in the company’s earnings growth trajectory.
• Positive Sentiment: Glj Research lifted its price target to $149.44 and maintained a buy rating, adding to the overall bullish analyst tone around the stock.
• Positive Sentiment: Nextpower’s patent infringement lawsuit against GameChange Solar may be viewed as a strategic move to protect its technology and market share in solar tracking systems. Nextpower sues GameChange over IP breach as GameChange announces rebranding
• Neutral Sentiment: GameChange said it will vigorously defend against the claims, which creates litigation uncertainty and could limit the near-term impact of the lawsuit.
• Negative Sentiment: Recent insider selling by the CFO and COO may slightly temper enthusiasm, though the trades were reported under pre-arranged 10b5-1 plans and do not necessarily signal a change in fundamentals.
• Negative Sentiment: Broader market weakness tied to China banking concerns and falling oil prices could weigh on sentiment across the renewable-energy and industrial space, even if company-specific news remains positive.

Insider Buying and Selling

In related news, COO Nicholas Marco Miller sold 22,427 shares of Nextpower stock in a transaction on 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at $125,480,767.68. The trade was a 2.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 228,030 shares of company stock valued at $28,812,757 over the last ninety days. 0.56% of the stock is owned by insiders.

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.