Sequoia Financial Advisors LLC Makes New $351,000 Investment in Nextpower Inc. $NXT

Sequoia Financial Advisors LLC acquired a new position in shares of Nextpower Inc. (NASDAQ:NXT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,027 shares of the company’s stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gateway Investment Advisers LLC grew its stake in Nextpower by 215.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company’s stock valued at $2,091,000 after acquiring an additional 16,388 shares in the last quarter. Swedbank AB grew its stake in Nextpower by 16.8% during the 4th quarter. Swedbank AB now owns 159,500 shares of the company’s stock valued at $13,894,000 after acquiring an additional 23,000 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Nextpower during the 4th quarter valued at about $5,081,000. Highland Capital Management LLC purchased a new position in Nextpower during the 4th quarter valued at about $218,000. Finally, Triasima Portfolio Management inc. purchased a new position in Nextpower during the 4th quarter valued at about $2,996,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

NXT has been the topic of several research analyst reports. BNP Paribas Exane lifted their target price on Nextpower from $145.00 to $177.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their target price on Nextpower from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird lifted their target price on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Mizuho lifted their target price on Nextpower from $112.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. lifted their target price on Nextpower from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.54.

Insider Activity at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the sale, the chief executive officer owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $134.48 on Tuesday. The stock has a market cap of $19.97 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 3.52 and a beta of 1.60. The business has a 50 day simple moving average of $118.60 and a 200 day simple moving average of $106.62. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $156.78.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, analysts predict that Nextpower Inc. will post 3.8 EPS for the current year.

Nextpower Company 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.