Nextpower Inc. $NXT Stock: E. Ohman J or Asset Management AB Decreases Holdings

E. Ohman J or Asset Management AB trimmed its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 20.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,098 shares of the company’s stock after selling 10,000 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Nextpower were worth $3,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Signature Equity Partners LLC grew its holdings in Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares during the period. Continuum Advisory LLC acquired a new stake in shares of Nextpower in the 2nd quarter valued at about $37,000. Root Financial Partners LLC raised its position in shares of Nextpower by 30.0% during the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after purchasing an additional 103 shares during the period. Trust Co. of Vermont bought a new position in shares of Nextpower in the 2nd quarter worth $63,000. Finally, Westfuller Advisors LLC acquired a new position in Nextpower during the first quarter worth $66,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nextpower

In related news, CFO Charles Boynton sold 4,500 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total value of $359,910.00. Following the completion of the transaction, the chief financial officer directly owned 354,000 shares of the company’s stock, valued at approximately $28,312,920. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed 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. Also, Director Julia Blunden sold 3,692 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $84.10, for a total transaction of $310,497.20. Following the completion of the sale, the director owned 2,742 shares of the company’s stock, valued at approximately $230,602.20. The trade was a 57.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 100,431 shares of company stock valued at $10,039,748. 0.84% of the stock is owned by insiders.

Trending Headlines about Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Truist maintained a Buy rating on Nextpower, signaling continued confidence in the company’s longer-term prospects. Truist Financial Remains a Buy on Nextpower Inc
• Positive Sentiment: Analyst coverage cited an average price target of approximately $140.85, suggesting substantial potential upside if Nextpower meets expectations and sentiment improves. Nextpower Stock Has Average Target Price
• Positive Sentiment: Citigroup cut its price target from $121 to $111 but retained a Buy rating; the target reduction reflects more cautious assumptions rather than a change to a bearish recommendation. Citigroup Nextpower Price Target Update
• Neutral Sentiment: Nextpower’s latest session saw a decline larger than the general market, indicating weak near-term trading momentum and heightened investor sensitivity ahead of earnings. Nextpower Suffers a Larger Drop Than the General Market
• Negative Sentiment: Zacks’ earnings preview said Nextpower lacks the usual indicators for a likely quarterly beat and expects earnings to decline, raising the risk of disappointing results or cautious guidance. Nextpower Q2 Earnings Preview
• Negative Sentiment: JPMorgan lowered its expectations for Nextpower’s share price, adding to the recent stream of more conservative analyst views. JPMorgan Lowers Expectations for Nextpower

Wall Street Analysts Forecast Growth

A number of analysts have commented on NXT shares. Barclays decreased their price objective on Nextpower from $147.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, October 13th. Royal Bank Of Canada decreased their price objective on shares of Nextpower from $149.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. TD Cowen raised Nextpower to a “hold” rating in a research report on Monday, October 5th. Roth Capital reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Nextpower in a research report on Tuesday, July 28th. Finally, BMO Capital Markets reduced their target price on shares of Nextpower from $132.00 to $114.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $139.77.

Nextpower Price Performance

Shares of NXT opened at $77.63 on Friday. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.97 and a beta of 1.94. The company has a 50-day moving average of $84.02 and a 200 day moving average of $105.36. Nextpower Inc. has a 1-year low of $76.50 and a 1-year high of $163.13.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $935.17 million for the quarter, compared to analyst estimates of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. On average, equities analysts anticipate that Nextpower Inc. will post 3.80 earnings per share for the current fiscal year.

Nextpower Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company’s product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.