Skandinaviska Enskilda Banken AB publ Lowers Stock Holdings in Nextpower Inc. $NXT

Skandinaviska Enskilda Banken AB publ reduced its position in Nextpower Inc. (NASDAQ:NXT) by 7.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 972,904 shares of the company’s stock after selling 76,433 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.66% of Nextpower worth $52,907,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Nextpower by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after buying an additional 324 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Nextpower by 703.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 577 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Nextpower by 1,737.8% during the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after acquiring an additional 782 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Nextpower by 309.4% in the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after acquiring an additional 628 shares during the last quarter. Finally, Summit Securities Group LLC lifted its holdings in shares of Nextpower by 796.0% in the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after acquiring an additional 804 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, President Howard Wenger sold 5,217 shares of Nextpower stock in a transaction on Monday, September 29th. The shares were sold at an average price of $75.00, for a total value of $391,275.00. Following the sale, the president owned 409,039 shares in the company, valued at $30,677,925. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total transaction of $918,500.00. Following the transaction, the director directly owned 16,777 shares in the company, valued at approximately $1,540,967.45. The trade was a 37.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 67,460 shares of company stock worth $5,970,201. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NXT shares. Mizuho set a $76.00 target price on shares of Nextpower in a report on Monday, October 20th. Bank of America raised their price objective on Nextpower from $94.00 to $102.00 and gave the company a “buy” rating in a research note on Friday, November 14th. UBS Group boosted their target price on Nextpower to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $99.00 price target on Nextpower and gave the stock a “buy” rating in a research report on Friday, October 24th. Finally, Royal Bank Of Canada boosted their price objective on Nextpower from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.76.

Nextpower Price Performance

Shares of NASDAQ:NXT opened at $90.67 on Friday. The stock’s 50-day moving average is $88.59 and its 200 day moving average is $70.65. The company has a market cap of $13.45 billion, a PE ratio of 23.55, a P/E/G ratio of 3.14 and a beta of 2.31. Nextpower Inc. has a 1 year low of $33.29 and a 1 year high of $112.74.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.21. Nextpower had a return on equity of 35.05% and a net margin of 17.08%.The business had revenue of $905.27 million during the quarter, compared to analysts’ expectations of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Analysts expect that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Nextpower Profile

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.