New Age Alpha Advisors LLC Cuts Position in Nextpower Inc. $NXT

New Age Alpha Advisors LLC cut its stake in Nextpower Inc. (NASDAQ:NXT) by 32.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,696 shares of the company’s stock after selling 35,684 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Nextpower were worth $6,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westfield Capital Management Co. LP grew its stake in Nextpower by 6.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after buying an additional 80,493 shares during the last quarter. New York Life Investment Management LLC purchased a new position in Nextpower during the 3rd quarter worth $1,008,000. Belpointe Asset Management LLC purchased a new position in Nextpower during the 3rd quarter worth $832,000. Strs Ohio grew its stake in Nextpower by 219.8% during the 3rd quarter. Strs Ohio now owns 110,000 shares of the company’s stock worth $8,139,000 after buying an additional 75,600 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Nextpower by 23.4% during the 3rd quarter. American Century Companies Inc. now owns 675,886 shares of the company’s stock worth $50,009,000 after buying an additional 128,296 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nextpower news, COO Nicholas Marco Miller sold 24,511 shares of the business’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 transaction of $3,120,740.52. Following the completion of the sale, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the sale, the chief executive officer owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 139,949 shares of company stock worth $15,452,995. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

NASDAQ NXT opened at $130.50 on Monday. The stock has a market capitalization of $19.38 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.21 and a beta of 1.60. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $156.78. The stock has a 50-day moving average of $119.89 and a 200 day moving average of $107.32.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million during the quarter, compared to analysts’ expectations 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 predict that Nextpower Inc. will post 3.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Loop Capital set a $135.00 price target on Nextpower in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on Nextpower from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Robert W. Baird boosted their price target on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Nextpower has an average rating of “Moderate Buy” and an average price target of $136.54.

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.