Assetmark Inc. Increases Stock Position in Nextpower Inc. $NXT

Assetmark Inc. boosted its position in Nextpower Inc. (NASDAQ:NXT) by 96.6% during the first quarter, Holdings Channel.com reports. The fund owned 840,966 shares of the company’s stock after acquiring an additional 413,142 shares during the period. Assetmark Inc.’s holdings in Nextpower were worth $101,378,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. raised its stake in shares of Nextpower by 0.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock valued at $2,326,000 after acquiring an additional 86 shares during the last quarter. Root Financial Partners LLC raised its position in Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after purchasing an additional 103 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Nextpower by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after buying an additional 119 shares during the period. Signaturefd LLC lifted its holdings in Nextpower by 4.1% in the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after buying an additional 126 shares during the period. Finally, Allworth Financial LP grew its position in shares of Nextpower by 16.8% in the 3rd quarter. Allworth Financial LP now owns 979 shares of the company’s stock worth $72,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

NXT has been the topic of several research analyst reports. Wall Street Zen cut Nextpower from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $149.00 price target on shares of Nextpower in a research note on Friday, May 29th. Northland Securities raised their price target on Nextpower from $148.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Mizuho lifted their price target on shares of Nextpower from $130.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $140.00 price objective on shares of Nextpower in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower currently has an average rating of “Moderate Buy” and an average target price of $150.10.

Nextpower Stock Performance

NXT stock opened at $106.85 on Friday. Nextpower Inc. has a fifty-two week low of $52.61 and a fifty-two week high of $163.13. The business’s 50 day moving average price is $124.35 and its two-hundred day moving average price is $115.67. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 2.16 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last released its 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 return on equity of 28.18% and a net margin of 16.46%.The company 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. Sell-side analysts forecast that Nextpower Inc. will post 3.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares in the company, valued at approximately $54,416,715. The trade was a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the completion of the sale, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. This represents 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. Insiders have sold 168,574 shares of company stock valued at $22,559,770 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

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.