Hsbc Holdings PLC Decreases Stock Holdings in Nextpower Inc. $NXT

Key Points

• Hsbc Holdings PLC reduced its Nextpower stake by 42.1% in the first quarter, ending with 24,720 shares valued at about $2.98 million.
• Nextpower reported strong quarterly results, with earnings of $1.05 per share and revenue of $880.52 million, both beating analyst expectations.
• Several insiders sold shares recently, including the CFO and CEO, though analysts remain generally positive with a Moderate Buy consensus and an average price target of $150.62.

Hsbc Holdings PLC cut its holdings in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 42.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,720 shares of the company's stock after selling 17,942 shares during the quarter. Hsbc Holdings PLC's holdings in Nextpower were worth $2,979,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. 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 valued at $26,000 after acquiring an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Nextpower by 268.7% during the 4th 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 last quarter. Huntington National Bank increased its holdings in Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after acquiring an additional 317 shares during the last quarter. Baillie Gifford & Co. lifted its holdings 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Nextpower by 511.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company's stock worth $37,000 after purchasing an additional 414 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Nextpower Price Performance

Shares of NASDAQ NXT opened at $100.03 on Friday. The stock has a market capitalization of $15.03 billion, a P/E ratio of 26.12, a PEG ratio of 2.00 and a beta of 1.86. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13. The firm's 50 day simple moving average is $120.70 and its two-hundred day simple moving average is $116.08.

Nextpower (NASDAQ:NXT - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $1.05 EPS for the quarter, topping 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 company 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 3.73 earnings per share for the current fiscal year.

Insider Transactions at Nextpower

In related news, CFO Charles D. Boynton sold 4,500 shares of the firm's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the sale, the chief financial officer directly owned 358,500 shares of the company's stock, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction that occurred 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 sale, 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. 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. In the last three months, insiders have sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NXT. Loop Capital set a $135.00 target price on shares of Nextpower in a report on Wednesday, May 13th. Wall Street Zen cut Nextpower from a "buy" rating to a "hold" rating in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $140.00 target price on shares of Nextpower in a report on Thursday, May 14th. Citigroup upped their price target on shares of Nextpower from $114.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, KeyCorp boosted their target price on Nextpower from $152.00 to $164.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $150.62.

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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