SG Americas Securities LLC Increases Stock Position in Nextpower Inc. $NXT

SG Americas Securities LLC increased its holdings in Nextpower Inc. (NASDAQ:NXT) by 335.4% during the first quarter, HoldingsChannel.com reports. The fund owned 200,669 shares of the company’s stock after buying an additional 154,582 shares during the period. SG Americas Securities LLC’s holdings in Nextpower were worth $24,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of NXT. Center For Asset Management LLC acquired a new stake in Nextpower during the 1st quarter worth $442,000. Evexia Wealth LLC increased its stake in Nextpower by 2.2% in the first quarter. Evexia Wealth LLC now owns 6,620 shares of the company’s stock valued at $738,000 after purchasing an additional 143 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Nextpower in the first quarter valued at about $8,233,000. Diversified Trust Co purchased a new stake in shares of Nextpower in the first quarter valued at about $843,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Nextpower by 451.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 9,274 shares of the company’s stock worth $808,000 after buying an additional 7,591 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextpower Trading Down 3.3%

Shares of NXT stock opened at $116.67 on Thursday. The company has a market cap of $17.53 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.86 and a beta of 1.73. The stock has a 50 day simple moving average of $126.20 and a 200-day simple moving average of $113.30. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13.

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

Insider Buying and Selling

In other Nextpower news, President Howard Wenger sold 62,670 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the completion of the sale, the president owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 business’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 sale, the chief financial officer owned 358,500 shares in the company, valued at $54,416,715. The trade was a 1.24% 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. 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NXT shares. Mizuho raised their price target on Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. BNP Paribas Exane upped their price objective on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. BMO Capital Markets lifted their target price on Nextpower from $113.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company increased their price target on Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Barclays boosted their price objective on shares of Nextpower from $123.00 to $142.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Twenty analysts have rated the stock with a Buy rating and five have given 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 price target 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.