Brookstone Capital Management Buys Shares of 19,705 Nextpower Inc. $NXT

Brookstone Capital Management bought a new stake in Nextpower Inc. (NASDAQ:NXT) during the 1st quarter, Holdings Channel reports. The fund bought 19,705 shares of the company’s stock, valued at approximately $2,375,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted 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 purchasing an additional 223 shares during the period. Huntington National Bank grew its holdings in shares of Nextpower by 480.3% during the fourth quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after buying an additional 317 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Nextpower during the 3rd quarter worth approximately $36,000. Finally, Baillie Gifford & Co. grew its position 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 purchasing an additional 182 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Down 3.3%

Shares of NASDAQ NXT opened at $116.67 on Thursday. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13. The firm has a fifty day simple moving average of $126.20 and a 200 day simple moving average of $113.30. The company has a market capitalization of $17.53 billion, a PE ratio of 30.46, a P/E/G ratio of 2.86 and a beta of 1.73.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $1.05 EPS 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 business had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. As a group, equities analysts expect that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

NXT has been the topic of several recent analyst reports. Glj Research boosted their price target on Nextpower from $147.00 to $149.44 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Loop Capital set a $135.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. KeyCorp raised their price target on Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Jefferies Financial Group boosted their price objective on shares of Nextpower from $145.00 to $159.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nextpower from $155.00 to $174.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Twenty research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.77.

Insiders Place Their Bets

In other Nextpower news, COO Nicholas Marco Miller sold 22,427 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.00, for a total value of $3,498,612.00. Following the transaction, the chief operating officer owned 186,194 shares in the company, valued at approximately $29,046,264. This represents a 10.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the stock in a transaction 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 transaction, the chief executive officer owned 931,419 shares in the company, valued at approximately $125,480,767.68. This represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.56% of the stock is currently owned by corporate insiders.

About Nextpower

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.