SCP Investment LP Sells 13,512 Shares of Nextpower Inc. $NXT

SCP Investment LP decreased its stake in Nextpower Inc. (NASDAQ:NXT) by 68.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,088 shares of the company’s stock after selling 13,512 shares during the quarter. SCP Investment LP’s holdings in Nextpower were worth $331,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of Nextpower by 56.5% in the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock valued at $220,722,000 after buying an additional 1,890,445 shares during the last quarter. Encompass Capital Advisors LLC raised its holdings in shares of Nextpower by 72.5% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after purchasing an additional 1,105,617 shares during the period. Wedge Capital Management L L P NC acquired a new position in Nextpower during the second quarter worth approximately $58,122,000. Nuveen LLC bought a new stake in Nextpower in the first quarter valued at approximately $40,356,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Nextpower in the first quarter valued at approximately $38,699,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NXT. Barclays lifted their price objective on shares of Nextpower from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Needham & Company LLC began coverage on Nextpower in a research report on Wednesday, October 22nd. They set a “buy” rating and a $102.00 price objective on the stock. Bank of America lifted their target price on Nextpower from $94.00 to $102.00 and gave the stock a “buy” rating in a report on Friday, November 14th. JPMorgan Chase & Co. upped their price target on shares of Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Citigroup upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $114.00 in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.76.

Nextpower Stock Up 0.7%

NASDAQ:NXT opened at $90.67 on Thursday. The firm has a market capitalization of $13.45 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 3.12 and a beta of 2.31. Nextpower Inc. has a twelve month low of $33.29 and a twelve month high of $112.74. The stock’s 50-day simple moving average is $88.18 and its 200 day simple moving average is $70.51.

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

Insider Transactions at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $67.21, for a total value of $302,445.00. Following the completion of the transaction, the chief financial officer directly owned 295,059 shares in the company, valued at approximately $19,830,915.39. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the sale, the director owned 16,777 shares in the company, valued at approximately $1,540,967.45. This trade represents a 37.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 67,460 shares of company stock worth $5,970,201. 0.56% of the stock is currently owned by insiders.

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.