Horizon Investment Services LLC Purchases 6,423 Shares of Nextpower Inc. $NXT

Horizon Investment Services LLC increased its position in shares of Nextpower Inc. (NASDAQ:NXT) by 124.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,569 shares of the company’s stock after acquiring an additional 6,423 shares during the period. Horizon Investment Services LLC’s holdings in Nextpower were worth $1,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. grew its position in Nextpower by 0.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after acquiring an additional 86 shares during the last quarter. Signaturefd LLC increased its stake in shares of Nextpower by 4.1% in the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock valued at $280,000 after buying an additional 126 shares during the period. Allworth Financial LP increased its stake in shares of Nextpower by 16.8% in the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after buying an additional 141 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Nextpower by 12.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock valued at $114,000 after buying an additional 143 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In related news, President Howard Wenger sold 62,670 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president directly owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, COO Nicholas Marco Miller sold 24,511 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the transaction, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 168,574 shares of company stock worth $22,559,770 in the last quarter. Company insiders own 0.56% of the company’s stock.

Nextpower Price Performance

Shares of Nextpower stock opened at $121.88 on Friday. Nextpower Inc. has a one year low of $51.69 and a one year high of $163.13. The stock’s 50-day moving average is $124.40 and its 200 day moving average is $111.17. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.89 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, sell-side analysts expect that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on NXT. BMO Capital Markets lifted their price objective on Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Mizuho lifted their price objective on Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, June 8th. Barclays lifted their price objective on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Northland Securities lifted their price objective on Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.77.

About Nextpower

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.