Nextpower Inc. $NXT Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,734 shares of the company’s stock after buying an additional 9,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Nextpower were worth $8,286,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NXT. Jupiter Asset Management Ltd. grew its holdings in Nextpower by 0.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after buying an additional 86 shares during the period. Root Financial Partners LLC increased its stake in shares of Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after acquiring an additional 103 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Nextpower by 2.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after acquiring an additional 119 shares during the period. Signaturefd LLC lifted its holdings in shares of Nextpower by 4.1% during the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after acquiring an additional 126 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Nextpower by 16.8% in the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock worth $72,000 after acquiring an additional 141 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In related news, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the sale, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. This represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This trade represents 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 three months, insiders have sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.84% of the company’s stock.

Nextpower Stock Performance

NASDAQ NXT opened at $104.66 on Wednesday. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13. The company’s 50 day moving average price is $124.97 and its 200 day moving average price is $115.44. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 1.97 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last announced 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 net margin of 16.46% and a return on equity of 28.18%. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Sell-side analysts forecast that Nextpower Inc. will post 3.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NXT. Jefferies Financial Group set a $153.00 target price on shares of Nextpower in a report on Friday, June 26th. Robert W. Baird increased their price target on shares of Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Citigroup lifted their price target on shares of Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Needham & Company LLC reissued a “buy” rating and set a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Finally, Glj Research upped their price objective on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.06.

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.