Union Bancaire Privee UBP SA Grows Stock Position in Nextpower Inc. $NXT

Union Bancaire Privee UBP SA boosted its holdings in Nextpower Inc. (NASDAQ:NXT) by 187.0% during the first quarter, HoldingsChannel reports. The fund owned 93,758 shares of the company’s stock after buying an additional 61,087 shares during the period. Union Bancaire Privee UBP SA’s holdings in Nextpower were worth $11,303,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Nextpower by 268.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares during the period. Huntington National Bank increased its position in shares of Nextpower by 480.3% during the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Nextpower by 76.5% during the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new stake in Nextpower in the 4th quarter valued at about $39,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the transaction, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the transaction, the insider directly owned 246,130 shares of the company’s stock, valued at $33,158,633.60. The trade was a 1.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 168,574 shares of company stock valued at $22,559,770. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Nextpower from $113.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 13th. Northland Securities boosted their price target on shares of Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Roth Mkm reaffirmed a “buy” rating and set a $155.00 price objective on shares of Nextpower in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 20th. Finally, Loop Capital set a $135.00 target price on Nextpower in a research report on Wednesday, May 13th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Nextpower has an average rating of “Moderate Buy” and a consensus target price of $147.52.

Nextpower Stock Performance

Shares of NXT opened at $106.95 on Friday. The stock has a market capitalization of $16.07 billion, a PE ratio of 27.92, a P/E/G ratio of 2.66 and a beta of 1.73. Nextpower Inc. has a 1 year low of $51.69 and a 1 year high of $163.13. The company’s 50-day simple moving average is $126.10 and its 200-day simple moving average is $113.41.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, sell-side analysts predict that Nextpower Inc. will post 3.71 earnings per share for the current year.

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.