Brookstone Capital Management Takes Position in Nextpower Inc. $NXT

Key Points

• Brookstone Capital Management initiated a new position in Nextpower, buying 19,705 shares valued at about $2.38 million in the first quarter.
• Institutional ownership remains strong, with hedge funds and asset managers holding 67.41% of the company; several firms increased their stakes during the period.
• Analysts remain bullish on NXT, with multiple firms raising price targets and the stock carrying a consensus Moderate Buy rating and average target of $147.77.

Brookstone Capital Management bought a new stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,705 shares of the company's stock, valued at approximately $2,375,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted 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 valued at $26,000 after acquiring an additional 155 shares during 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 valued at $33,000 after buying an additional 317 shares in the last quarter. Foster Dykema Cabot & Partners LLC purchased a new position in Nextpower during the 3rd quarter valued at about $36,000. Finally, Baillie Gifford & Co. grew its position in Nextpower by 76.5% during 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. 67.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, President Howard Wenger sold 62,670 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the transaction, the president owned 426,467 shares in the company, valued at $55,547,326.75. This trade represents a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 22,427 shares of the business's stock in a transaction dated 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 sale, the chief operating officer directly owned 186,194 shares of the company's stock, valued at $29,046,264. This represents a 10.75% 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. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 over the last quarter. Company insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NXT. JPMorgan Chase & Co. upped their target price on Nextpower from $155.00 to $174.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Barclays upped their price objective on shares of Nextpower from $123.00 to $142.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Northland Securities lifted their price objective on Nextpower from $148.00 to $162.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. KeyCorp raised their price objective on shares of Nextpower from $152.00 to $164.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Finally, Glj Research lifted their target price on Nextpower from $147.00 to $149.44 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Twenty 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, Nextpower presently has an average rating of "Moderate Buy" and a consensus target price of $147.77.

Nextpower Stock Performance

NXT opened at $116.67 on Thursday. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.86 and a beta of 1.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13. The firm's 50-day simple moving average is $126.20 and its 200-day simple moving average is $113.30.

Nextpower (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.16. The company 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, sell-side analysts anticipate that Nextpower Inc. will post 3.69 EPS for the current fiscal 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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