Aventail Capital Group LP Acquires New Stake in Nextpower Inc. $NXT

Aventail Capital Group LP acquired a new stake in shares of Nextpower Inc. (NASDAQ:NXT) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 72,590 shares of the company’s stock, valued at approximately $6,323,000.

A number of other large investors have also made changes to their positions in NXT. Norges Bank acquired a new stake in shares of Nextpower during the fourth quarter valued at $170,918,000. William Blair Investment Management LLC acquired a new stake in shares of Nextpower during the third quarter valued at $108,739,000. Amundi boosted its stake in shares of Nextpower by 156.1% during the third quarter. Amundi now owns 2,111,628 shares of the company’s stock valued at $161,600,000 after acquiring an additional 1,287,071 shares during the last quarter. Electron Capital Partners LLC boosted its stake in shares of Nextpower by 2,017.7% during the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock valued at $41,909,000 after acquiring an additional 539,668 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Nextpower by 142.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company’s stock valued at $73,879,000 after acquiring an additional 498,110 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NXT. KeyCorp increased their price objective on Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Roth Mkm reiterated a “buy” rating and set a $155.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. Robert W. Baird increased their target price on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $140.00 target price on Nextpower and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Finally, Wall Street Zen downgraded Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and a consensus price target of $147.77.

Nextpower Price Performance

Nextpower stock opened at $123.31 on Thursday. The stock’s 50-day moving average is $125.21 and its 200-day moving average is $112.07. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.16. The company had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current year.

Insider Buying and Selling at Nextpower

In related news, COO Nicholas Marco Miller sold 22,427 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $156.00, for a total transaction of $3,498,612.00. Following the sale, the chief operating officer directly owned 186,194 shares in the company, valued at approximately $29,046,264. This trade represents a 10.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 firm’s stock in a transaction dated 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 sale, the chief executive officer owned 931,419 shares in the company, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 quarter, insiders sold 168,574 shares of company stock worth $22,559,770. Insiders own 0.56% of the company’s stock.

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.