Encompass Capital Advisors LLC Decreases Stake in Nextpower Inc. $NXT

Encompass Capital Advisors LLC reduced its holdings in Nextpower Inc. (NASDAQ:NXT) by 58.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 499,837 shares of the company’s stock after selling 691,746 shares during the period. Nextpower makes up approximately 1.8% of Encompass Capital Advisors LLC’s holdings, making the stock its 15th largest holding. Encompass Capital Advisors LLC’s holdings in Nextpower were worth $43,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Nextpower by 268.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares during the last quarter. Huntington National Bank increased its position in Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Baillie Gifford & Co. increased its position in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in Nextpower during the fourth quarter worth about $39,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Price Performance

Shares of NXT stock opened at $123.31 on Thursday. The firm has a market cap of $18.53 billion, a PE ratio of 32.20, a price-to-earnings-growth ratio of 2.98 and a beta of 1.73. The company has a 50-day moving average of $125.21 and a two-hundred day moving average of $112.07. Nextpower Inc. has a 1-year low of $51.69 and a 1-year high of $163.13.

Nextpower (NASDAQ:NXT) last announced its earnings results 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 company had revenue of $880.52 million during the quarter, compared to analyst estimates 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. Sell-side analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NXT shares. Wells Fargo & Company raised their price objective on shares of Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Needham & Company LLC restated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a research report on Friday, May 29th. Susquehanna raised their price objective on shares of Nextpower from $161.00 to $180.00 and gave the stock a “positive” rating in a research report on Monday, June 1st. TD Cowen raised their price objective on shares of Nextpower from $105.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, Citigroup raised their price objective on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Nextpower presently has an average rating of “Moderate Buy” and an average target price of $147.77.

Insider Activity at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the transaction, the chief financial officer owned 358,500 shares of the company’s stock, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $125,480,767.68. This trade represents a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 a total of 168,574 shares of company stock valued at $22,559,770 over the last quarter. 0.56% of the stock is owned by insiders.

About Nextpower

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.