Nextpower Inc. $NXT Stake Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,039,010 shares of the company’s stock after selling 30,002 shares during the period. Nextpower accounts for 1.3% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 3rd biggest position. Wedge Capital Management L L P NC owned approximately 0.70% of Nextpower worth $76,876,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Primecap Management Co. CA increased its position in Nextpower by 1.1% during the 2nd quarter. Primecap Management Co. CA now owns 7,675,821 shares of the company’s stock worth $417,334,000 after purchasing an additional 83,227 shares in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Nextpower by 11.0% during the 2nd quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock worth $158,748,000 after purchasing an additional 289,663 shares during the last quarter. Norges Bank purchased a new stake in shares of Nextpower during the second quarter worth about $140,772,000. Handelsbanken Fonder AB raised its position in shares of Nextpower by 8.3% in the second quarter. Handelsbanken Fonder AB now owns 2,303,206 shares of the company’s stock valued at $125,225,000 after buying an additional 176,530 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Nextpower by 6.0% during the second quarter. Westfield Capital Management Co. LP now owns 1,317,564 shares of the company’s stock valued at $71,636,000 after buying an additional 74,413 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on NXT. Deutsche Bank Aktiengesellschaft set a $99.00 target price on shares of Nextpower and gave the stock a “buy” rating in a research note on Friday, October 24th. Barclays upped their target price on Nextpower from $92.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Royal Bank Of Canada raised their price target on Nextpower from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Wall Street Zen downgraded shares of Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Jefferies Financial Group cut shares of Nextpower from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Nextpower has a consensus rating of “Moderate Buy” and a consensus price target of $95.76.

Nextpower Price Performance

Nextpower stock opened at $88.70 on Friday. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 3.08 and a beta of 2.35. Nextpower Inc. has a 12 month low of $33.29 and a 12 month high of $112.74. The stock’s 50-day moving average is $92.62 and its 200-day moving average is $74.34.

Nextpower (NASDAQ:NXT) last posted its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The firm had revenue of $905.27 million during the quarter, compared to the consensus estimate of $839.53 million. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Research analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current year.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel S. Shugar sold 47,743 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total value of $4,357,981.04. Following the completion of the sale, the chief executive officer directly owned 624,882 shares in the company, valued at approximately $57,039,228.96. This represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total value of $918,500.00. Following the completion of the transaction, the director directly owned 16,777 shares in the company, valued at $1,540,967.45. This trade represents a 37.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 96,685 shares of company stock worth $8,638,254. 0.56% of the stock is currently owned by insiders.

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.