Lombard Odier Asset Management Europe Ltd Lowers Stake in Nextpower Inc. $NXT

Lombard Odier Asset Management Europe Ltd cut its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 81.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 77,916 shares of the company’s stock after selling 341,851 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Nextpower were worth $6,787,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NXT. Smartleaf Asset Management LLC lifted its holdings in Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake 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 raised its holdings 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 in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Nextpower during the 3rd quarter worth approximately $36,000. Finally, Baillie Gifford & Co. boosted its holdings in shares of Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling

In other Nextpower news, President Howard Wenger sold 62,670 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the sale, the president directly owned 426,467 shares in the company, valued at approximately $55,547,326.75. The trade was a 12.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $151.79, for a total transaction of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 168,574 shares of company stock valued at $22,559,770 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

Nextpower Trading Down 0.2%

NASDAQ NXT opened at $125.62 on Wednesday. The business’s 50 day moving average is $124.90 and its two-hundred day moving average is $111.84. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 2.98 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last posted 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 return on equity of 28.18% and a net margin of 16.46%.The business 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. Equities analysts forecast that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NXT. TD Cowen boosted their price target on shares of Nextpower from $105.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Northland Securities upped their target price on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Glj Research raised their price target on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Barclays lifted their price target on Nextpower from $123.00 to $142.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Royal Bank Of Canada boosted their price objective on Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.77.

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.