Nwam LLC Takes Position in Nextpower Inc. $NXT

Nwam LLC acquired a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,843 shares of the company’s stock, valued at approximately $1,307,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. boosted its position in Nextpower by 3,751.3% in the first quarter. Hillsdale Investment Management Inc. now owns 3,081 shares of the company’s stock valued at $371,000 after buying an additional 3,001 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Nextpower by 6.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 13,639 shares of the company’s stock worth $1,644,000 after buying an additional 780 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in shares of Nextpower during the first quarter worth $2,420,000. State of Michigan Retirement System increased its holdings in shares of Nextpower by 1.7% during the first quarter. State of Michigan Retirement System now owns 35,700 shares of the company’s stock worth $4,304,000 after buying an additional 600 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its stake in shares of Nextpower by 27.0% in the 1st quarter. AMF Tjanstepension AB now owns 59,117 shares of the company’s stock valued at $7,127,000 after acquiring an additional 12,582 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Trading Up 4.3%

Shares of NXT opened at $109.13 on Thursday. The company has a market capitalization of $16.40 billion, a PE ratio of 28.49, a PEG ratio of 2.07 and a beta of 1.86. Nextpower Inc. has a 12 month low of $52.61 and a 12 month high of $163.13. The stock’s 50-day moving average price is $124.63 and its two-hundred day moving average price is $115.56.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share 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 during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities research analysts predict that Nextpower Inc. will post 3.77 EPS for the current fiscal year.

Key Stories Impacting Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Truist Securities initiated coverage on Nextpower with a Buy rating, reinforcing a more optimistic analyst outlook for the stock. Why Is Nextpower Stock Surging on Wednesday?
• Positive Sentiment: Zacks Research upgraded Nextpower from Hold to Strong Buy, adding to the recent bullish momentum from analysts. Tickerreport.com
• Positive Sentiment: Truist Financial Corporation also upgraded Nextpower to Strong Buy, which may have helped drive renewed investor interest in the shares. Zacks.com
• Neutral Sentiment: Nextpower has been attracting increased attention from investors and Zacks users, signaling higher market interest but not necessarily a fundamental change. Nextpower Inc. (NXT) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Separate Zacks coverage highlighted that broker sentiment around Nextpower remains an important factor for investors, reflecting ongoing scrutiny of the stock by Wall Street. Nextpower (NXT) Is Considered a Good Investment by Brokers: Is That True?

Insider Activity

In other news, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, the chief executive officer owned 931,419 shares in the company, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, President Howard Wenger sold 62,670 shares of the company’s 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 directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. This represents a 12.81% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NXT. Mizuho raised their price objective on Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Glj Research upped their target price on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. BMO Capital Markets increased their target price on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. BNP Paribas Exane lifted their price target on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Robert W. Baird boosted their price target on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.10.

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.