Nextpower Inc. $NXT Stake Boosted by Occam Crest Management LP

Occam Crest Management LP grew its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 11.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Nextpower accounts for 3.0% of Occam Crest Management LP’s investment portfolio, making the stock its 13th biggest holding. Occam Crest Management LP’s holdings in Nextpower were worth $4,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NXT. Smartleaf Asset Management LLC boosted its holdings in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Nextpower by 268.7% in the fourth 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 in the last quarter. Huntington National Bank boosted its holdings in Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Finally, Foster Dykema Cabot & Partners LLC bought a new stake in Nextpower in the third quarter worth $36,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the transaction, the insider owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, COO Nicholas Marco Miller sold 24,511 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the transaction, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at $28,205,581.56. This represents a 9.96% 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 have sold 168,574 shares of company stock valued at $22,559,770 in the last three months. Company insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

Shares of NXT opened at $125.83 on Tuesday. The company has a 50-day simple moving average of $124.65 and a 200-day simple moving average of $111.59. The firm has a market capitalization of $18.91 billion, a P/E ratio of 32.85, a P/E/G ratio of 2.89 and a beta of 1.73. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The business had revenue of $880.52 million during the quarter, compared to analyst estimates of $826.26 million. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts forecast that Nextpower Inc. will post 3.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Northland Securities upped their price objective on shares of Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Mizuho upped their price objective on shares of Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, June 8th. KeyCorp upped their price objective on shares of Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. BNP Paribas Exane upped their price objective on shares of Nextpower from $177.00 to $182.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Nextpower from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 20th. Twenty investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.77.

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.