5,658 Shares in Nextpower Inc. $NXT Acquired by Hollencrest Capital Management

Hollencrest Capital Management bought a new position in Nextpower Inc. (NASDAQ:NXT) in the first quarter, Holdings Channel.com reports. The fund bought 5,658 shares of the company’s stock, valued at approximately $682,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Nextpower by 0.6% in the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after buying an additional 31,689 shares in the last quarter. Geode Capital Management LLC boosted its stake in Nextpower by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 4,021,741 shares of the company’s stock valued at $350,385,000 after buying an additional 236,593 shares in the last quarter. Invesco Ltd. boosted its stake in Nextpower by 5.1% during the fourth quarter. Invesco Ltd. now owns 2,864,660 shares of the company’s stock valued at $249,541,000 after buying an additional 139,211 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Nextpower by 4.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,429,410 shares of the company’s stock worth $211,627,000 after acquiring an additional 111,782 shares during the period. Finally, Amundi grew its holdings in Nextpower by 156.1% during the third quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after acquiring an additional 1,287,071 shares during the period. 67.41% of the stock is owned by institutional investors.

Insider Activity at Nextpower

In other news, President Howard Wenger sold 62,670 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the sale, the president owned 426,467 shares in the company, valued at $55,547,326.75. This represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, insider Bruce Ledesma sold 3,248 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 value of $437,570.56. Following the completion of the sale, the insider directly owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 168,574 shares of company stock worth $22,559,770. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

NXT has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Truist Financial began coverage on shares of Nextpower in a report on Monday, July 13th. They issued a “buy” rating and a $140.00 target price on the stock. Barclays raised their target price on shares of Nextpower from $142.00 to $147.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Mizuho lifted their price target on shares of Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company increased their price objective on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.10.

Nextpower Price Performance

NXT stock opened at $103.10 on Monday. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The company’s 50 day simple moving average is $123.89 and its 200-day simple moving average is $115.77. The firm has a market capitalization of $15.49 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.04 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts predict that Nextpower Inc. will post 3.75 EPS for the current fiscal 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.