Axiom Investors LLC DE Makes New Investment in Nextpower Inc. $NXT

Key Points

• Axiom Investors opened a new position in Nextpower during the fourth quarter, buying 145,640 shares worth about $12.7 million.
• Insiders have been selling shares recently, including COO Nicholas Marco Miller and President Howard Wenger, with $22.6 million in insider stock sales over the past 90 days.
• Analysts remain constructive on Nextpower: several firms raised price targets, and the stock currently carries a Moderate Buy consensus with an average target price of $147.77.

Axiom Investors LLC DE purchased a new position in Nextpower Inc. (NASDAQ:NXT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 145,640 shares of the company's stock, valued at approximately $12,687,000. Axiom Investors LLC DE owned about 0.10% of Nextpower at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jupiter Asset Management Ltd. grew its position in Nextpower by 0.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company's stock worth $2,326,000 after purchasing an additional 86 shares during the last quarter. Signaturefd LLC boosted its position in shares of Nextpower by 4.1% during the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company's stock valued at $280,000 after acquiring an additional 126 shares in the last quarter. Allworth Financial LP boosted its position in shares of Nextpower by 16.8% during the 3rd quarter. Allworth Financial LP now owns 979 shares of the company's stock valued at $72,000 after acquiring an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Nextpower by 12.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company's stock valued at $114,000 after acquiring an additional 143 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in shares of Nextpower by 3.2% during the 4th quarter. IFP Advisors Inc now owns 5,097 shares of the company's stock valued at $444,000 after acquiring an additional 159 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Nextpower news, COO Nicholas Marco Miller sold 24,511 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the transaction, the chief operating officer directly owned 221,533 shares of the company's stock, valued at approximately $28,205,581.56. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the business's 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 completion of the transaction, the president directly owned 426,467 shares of the company's stock, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 168,574 shares of company stock worth $22,559,770 over the last ninety days. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NXT. KeyCorp lifted their target price on shares of Nextpower from $152.00 to $164.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the company a "buy" rating in a research report on Tuesday, April 14th. Robert W. Baird lifted their target price on shares of Nextpower from $133.00 to $156.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. UBS Group reiterated a "buy" rating and set a $170.00 target price on shares of Nextpower in a research report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 20th. Twenty analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Nextpower currently has a consensus rating of "Moderate Buy" and an average target price of $147.77.

Nextpower Stock Down 5.1%

Shares of NXT stock opened at $119.27 on Wednesday. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $163.13. The company has a market capitalization of $17.92 billion, a P/E ratio of 31.14, a P/E/G ratio of 2.98 and a beta of 1.73. The firm has a 50-day moving average price of $124.40 and a 200 day moving average price of $110.68.

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

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.

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