Harbor Capital Advisors Inc. Cuts Stock Holdings in Nextpower Inc. $NXT

Harbor Capital Advisors Inc. lessened its holdings in Nextpower Inc. (NASDAQ:NXT) by 61.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,405 shares of the company’s stock after selling 111,448 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Nextpower were worth $5,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NXT. Northwestern Mutual Wealth Management Co. grew its holdings in Nextpower by 703.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after acquiring an additional 577 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Nextpower by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Nextpower by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after purchasing an additional 782 shares during the period. MAI Capital Management increased its holdings in shares of Nextpower by 309.4% in the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after purchasing an additional 628 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of 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 in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 47,743 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the sale, the chief executive officer owned 624,882 shares in the company, valued at $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Watkins sold 10,000 shares of Nextpower stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total value of $918,500.00. Following the completion of the sale, the director directly owned 16,777 shares of the company’s stock, valued at approximately $1,540,967.45. This represents a 37.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 96,685 shares of company stock worth $8,638,254. 0.56% of the stock is owned by company insiders.

Nextpower Trading Up 0.1%

NASDAQ:NXT opened at $91.17 on Thursday. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 3.16 and a beta of 2.35. The company’s 50-day moving average is $92.77 and its two-hundred day moving average is $75.05. Nextpower Inc. has a 12-month low of $36.06 and a 12-month high of $112.74.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. The business had revenue of $905.27 million during the quarter, compared to the consensus estimate 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, equities research analysts forecast that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NXT has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Nextpower from $72.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Citigroup upgraded Nextpower from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $114.00 in a report on Tuesday, October 21st. Jefferies Financial Group downgraded Nextpower from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Barclays boosted their target price on Nextpower from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, The Goldman Sachs Group lifted their target price on shares of Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.76.

About Nextpower

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.