Electron Capital Partners LLC Purchases 65,311 Shares of Nextpower Inc. $NXT

Electron Capital Partners LLC raised its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 631,726 shares of the company’s stock after purchasing an additional 65,311 shares during the period. Nextpower accounts for approximately 2.6% of Electron Capital Partners LLC’s holdings, making the stock its 16th biggest holding. Electron Capital Partners LLC owned about 0.43% of Nextpower worth $55,030,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NXT. Smartleaf Asset Management LLC grew its position in shares of Nextpower by 107.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after buying an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. lifted 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 valued at $28,000 after buying an additional 223 shares during the period. Huntington National Bank boosted its stake in Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock valued at $33,000 after acquiring an additional 317 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after acquiring an additional 182 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in Nextpower during the 4th quarter worth $39,000. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on NXT shares. Glj Research upped their target price on shares of Nextpower from $147.00 to $149.44 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Roth Mkm restated a “buy” rating and issued a $155.00 price target on shares of Nextpower in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $140.00 price objective on shares of Nextpower in a research note on Thursday, May 14th. Robert W. Baird raised their target price on Nextpower from $133.00 to $156.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.77.

Insider Activity at Nextpower

In other news, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the transaction, the president owned 426,467 shares in the company, valued at $55,547,326.75. The trade was a 12.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, CEO Daniel S. Shugar sold 26,077 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the completion of the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. This represents a 2.72% 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. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 over the last 90 days. Insiders own 0.56% of the company’s stock.

Nextpower Stock Down 1.8%

NXT opened at $123.31 on Thursday. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $163.13. The company has a fifty day simple moving average of $125.21 and a 200 day simple moving average of $112.07. The stock has a market cap of $18.53 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.98 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The business had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities research analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current fiscal 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.