CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 20,000 Shares of Nextpower Inc. $NXT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,000 shares of the company’s stock after selling 20,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Nextpower were worth $17,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in shares of Nextpower by 107.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after purchasing an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Nextpower by 268.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after buying an additional 223 shares in the last quarter. Huntington National Bank increased its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after buying an additional 317 shares during the last quarter. Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Nextpower during the 3rd quarter valued at $36,000. Finally, Baillie Gifford & Co. lifted its holdings 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 acquiring an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NXT shares. The Goldman Sachs Group reissued a “buy” rating and issued a $168.00 target price on shares of Nextpower in a research note on Wednesday. Roth Mkm reiterated a “buy” rating and issued a $155.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. Wolfe Research reiterated an “outperform” rating and set a $160.00 price objective on shares of Nextpower in a research report on Friday, May 29th. Glj Research raised their price objective on Nextpower from $147.00 to $149.44 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings lowered Nextpower from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Twenty analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Nextpower currently has an average rating of “Moderate Buy” and a consensus price target of $148.69.

Nextpower Price Performance

Nextpower stock opened at $112.84 on Monday. The firm has a fifty day simple moving average of $126.55 and a two-hundred day simple moving average of $114.47. Nextpower Inc. has a twelve month low of $52.61 and a twelve month high of $163.13. The company has a market capitalization of $16.96 billion, a PE ratio of 29.46, a P/E/G ratio of 2.66 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million for 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. As a group, equities analysts expect that Nextpower Inc. will post 3.71 earnings per share for the current fiscal year.

Insider Activity at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the sale, the chief executive officer owned 931,419 shares in the company, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the sale, the chief financial officer directly owned 358,500 shares of the company’s stock, valued at approximately $54,416,715. This trade represents a 1.24% decrease in their position. 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. Insiders sold a total of 168,574 shares of company stock worth $22,559,770 over the last three months. Corporate insiders own 0.56% of the company’s stock.

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.