Meeder Asset Management Inc. Has $387,000 Holdings in Nextpower Inc. $NXT

Meeder Asset Management Inc. cut its position in shares of Nextpower Inc. (NASDAQ:NXT) by 72.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,214 shares of the company’s stock after selling 8,624 shares during the period. Meeder Asset Management Inc.’s holdings in Nextpower were worth $387,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Nextpower by 4.6% during the 4th quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after acquiring an additional 18,380 shares during the period. Assetmark Inc. increased its stake in Nextpower by 342,159.2% in the fourth quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock valued at $37,268,000 after acquiring an additional 427,699 shares during the period. Andrew Hill Investment Advisors Inc. increased its stake in Nextpower by 31.2% in the fourth quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after acquiring an additional 16,666 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in Nextpower in the fourth quarter worth about $988,000. Finally, Gateway Investment Advisers LLC raised its position in Nextpower by 215.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company’s stock worth $2,091,000 after purchasing an additional 16,388 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Howard Wenger sold 62,670 shares of the firm’s stock in a transaction 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 completion of the sale, the president directly 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 transaction was disclosed in a document filed 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, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction 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 completion of the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 168,574 shares of company stock worth $22,559,770 over the last ninety days. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NXT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $140.00 price objective on shares of Nextpower in a report on Thursday, May 14th. Mizuho increased their target price on Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. Citigroup raised their target price on Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $149.00 price target on shares of Nextpower in a research note on Friday, May 29th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $160.00 price target on shares of Nextpower in a research report on Friday, May 29th. Two equities research 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, the company has an average rating of “Moderate Buy” and an average price target of $150.62.

Nextpower Stock Up 5.4%

Shares of NXT stock opened at $105.67 on Wednesday. The company has a market capitalization of $15.88 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.00 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 firm has a 50-day moving average price of $122.98 and a 200 day moving average price of $115.99.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data 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. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, research analysts expect 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.