Swedbank AB Purchases 23,000 Shares of Nextpower Inc. $NXT

Swedbank AB boosted its position in Nextpower Inc. (NASDAQ:NXT) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,500 shares of the company’s stock after purchasing an additional 23,000 shares during the quarter. Swedbank AB owned about 0.11% of Nextpower worth $13,894,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Nextpower by 19.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after purchasing an additional 71,842 shares during the period. M&T Bank Corp bought a new stake in Nextpower in the 2nd quarter valued at $223,000. EverSource Wealth Advisors LLC boosted its stake in Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after purchasing an additional 724 shares during the period. Cerity Partners LLC boosted its stake in Nextpower by 154.0% in the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after purchasing an additional 11,239 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock valued at $12,122,000 after acquiring an additional 59,573 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Nextpower Stock Performance

NASDAQ:NXT opened at $131.21 on Wednesday. The stock has a fifty day moving average price of $120.41 and a 200-day moving average price of $107.67. The company has a market cap of $19.48 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 3.21 and a beta of 1.60. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $156.78.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The company had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts predict that Nextpower Inc. will post 3.76 EPS for the current fiscal year.

Insider Transactions at Nextpower

In other news, COO Nicholas Marco Miller sold 24,511 shares of the business’s stock in a transaction 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 transaction, the chief operating officer owned 221,533 shares of the company’s stock, 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 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 transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This trade represents a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 149,000 shares of company stock valued at $16,548,347. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Loop Capital set a $135.00 target price on Nextpower in a research report on Wednesday, May 13th. Needham & Company LLC upped their target price on Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Citigroup upped their target price on Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. upped their target price on Nextpower from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, Robert W. Baird upped their target price on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. One 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.