Lido Advisors LLC Reduces Stake in Nextpower Inc. $NXT

Lido Advisors LLC cut its position in shares of Nextpower Inc. (NASDAQ:NXT) by 47.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,535 shares of the company’s stock after selling 6,912 shares during the quarter. Lido Advisors LLC’s holdings in Nextpower were worth $908,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of NXT. State of Wyoming grew its holdings in Nextpower by 6.2% in the first quarter. State of Wyoming now owns 4,473 shares of the company’s stock valued at $539,000 after purchasing an additional 260 shares during the last quarter. Signature Equity Partners LLC boosted its position in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after buying an additional 113 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of Nextpower in the 1st quarter worth about $3,992,000. First Trust Advisors LP grew its stake in Nextpower by 0.5% in the 1st quarter. First Trust Advisors LP now owns 528,244 shares of the company’s stock valued at $63,680,000 after acquiring an additional 2,590 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Nextpower by 3.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,263 shares of the company’s stock valued at $1,719,000 after acquiring an additional 540 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NXT shares. UBS Group restated a “buy” rating and set a $170.00 target price on shares of Nextpower in a research report on Friday, May 29th. Citigroup increased their price target on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. KeyCorp raised their price objective on shares of Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. lifted their price objective on Nextpower from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Truist Financial began coverage on Nextpower in a research note on Monday, July 13th. They issued a “buy” rating and a $140.00 target price on the stock. Two equities research 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’s stock. According to MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and an average price target of $151.42.

Nextpower Trading Down 8.1%

Shares of NXT stock opened at $95.35 on Wednesday. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 2.07 and a beta of 1.86. The firm has a 50-day moving average price of $119.45 and a 200 day moving average price of $116.40. Nextpower Inc. has a twelve month low of $52.61 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million for the quarter, compared to analysts’ expectations 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. As a group, research analysts predict that Nextpower Inc. will post 3.73 earnings per share for the current year.

Insider Buying and Selling at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the completion of the transaction, the chief financial officer directly owned 358,500 shares in the company, valued at approximately $54,416,715. The trade was a 1.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. This trade represents a 2.72% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is owned by corporate insiders.

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.