Globeflex Capital L P Reduces Stock Position in Nextpower Inc. $NXT

Globeflex Capital L P cut its holdings in Nextpower Inc. (NASDAQ:NXT) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,495 shares of the company’s stock after selling 4,848 shares during the period. Nextpower comprises about 1.0% of Globeflex Capital L P’s holdings, making the stock its 19th largest position. Globeflex Capital L P’s holdings in Nextpower were worth $6,931,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NXT. State of Wyoming boosted its position in shares of Nextpower by 6.2% during the 1st quarter. State of Wyoming now owns 4,473 shares of the company’s stock worth $539,000 after acquiring an additional 260 shares in the last quarter. Signature Equity Partners LLC raised its position in shares of Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares in the last quarter. CI Investments Inc. purchased a new stake in Nextpower during the first quarter worth approximately $3,992,000. First Trust Advisors LP lifted its stake in Nextpower by 0.5% during the first quarter. First Trust Advisors LP now owns 528,244 shares of the company’s stock worth $63,680,000 after purchasing an additional 2,590 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Nextpower by 3.9% in the first quarter. PNC Financial Services Group Inc. now owns 14,263 shares of the company’s stock valued at $1,719,000 after purchasing an additional 540 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on NXT shares. Jefferies Financial Group set a $153.00 price target on shares of Nextpower in a research note on Friday, June 26th. Loop Capital set a $135.00 target price on shares of Nextpower in a report on Wednesday, May 13th. Weiss Ratings downgraded shares of Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Wolfe Research reiterated an “outperform” rating and set a $160.00 price target on shares of Nextpower in a research note on Friday, May 29th. Finally, Royal Bank Of Canada set a $179.00 price target on shares of Nextpower in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.62.

Insider Transactions at Nextpower

In related news, insider Bruce Ledesma sold 3,248 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the sale, the insider owned 246,130 shares in the company, valued at $33,158,633.60. This represents a 1.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the transaction, the chief executive officer directly owned 931,419 shares in the company, valued at $125,480,767.68. The trade was a 2.72% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 168,574 shares of company stock worth $22,559,770 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Nextpower Stock Down 0.7%

NXT opened at $104.96 on Thursday. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The business’s 50 day moving average is $122.35 and its two-hundred day moving average is $116.11. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 2.11 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data 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. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Equities analysts expect that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Nextpower 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.