Meeder Asset Management Inc. Sells 8,624 Shares of Nextpower Inc. $NXT

Meeder Asset Management Inc. trimmed its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 72.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,214 shares of the company’s stock after selling 8,624 shares during the quarter. Meeder Asset Management Inc.’s holdings in Nextpower were worth $387,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after acquiring an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Nextpower by 268.7% in the 4th 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 lifted its holdings in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Baillie Gifford & Co. boosted its position in Nextpower by 76.5% during the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in Nextpower during the fourth quarter worth approximately $39,000. 67.41% of the stock is currently owned by institutional investors.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the 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 sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at $125,480,767.68. This represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, COO Nicholas Marco Miller sold 22,427 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief operating officer owned 186,194 shares in the company, valued at $29,046,264. This represents a 10.75% 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. Over the last quarter, insiders sold 168,574 shares of company stock worth $22,559,770. 0.84% of the stock is currently owned by insiders.

Nextpower Stock Up 5.4%

Shares of NXT stock opened at $105.67 on Wednesday. Nextpower Inc. has a 12 month low of $52.61 and a 12 month high of $163.13. The firm has a market cap of $15.88 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.86. The stock has a 50 day moving average of $122.98 and a 200-day moving average of $115.99.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data 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 business had revenue of $880.52 million for the quarter, compared to the consensus estimate 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, equities analysts predict that Nextpower Inc. will post 3.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NXT shares. UBS Group reissued a “buy” rating and issued a $170.00 price target on shares of Nextpower in a research report on Friday, May 29th. TD Cowen decreased their price objective on shares of Nextpower from $135.00 to $118.00 and set a “hold” rating for the company in a report on Monday. Loop Capital set a $135.00 target price on shares of Nextpower in a research note on Wednesday, May 13th. BMO Capital Markets lifted their target price on shares of Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, May 13th. Finally, Roth Capital reissued a “buy” rating and set a $155.00 target price on shares of Nextpower in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and a consensus target price of $150.62.

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.