Lombard Odier Asset Management Europe Ltd Reduces Holdings in Nextpower Inc. $NXT

Key Points

• Lombard Odier Asset Management Europe Ltd cut its Nextpower stake by 81.4% in the fourth quarter, leaving it with 77,916 shares worth about $6.8 million.
• Institutional interest remains strong overall, with several major funds increasing or initiating positions; institutions now own 67.41% of Nextpower’s stock.
• Nextpower reported better-than-expected quarterly results, with earnings of $1.05 per share and revenue of $880.52 million, while analysts currently hold a Moderate Buy consensus and an average price target of $147.77.

Lombard Odier Asset Management Europe Ltd reduced its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 81.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,916 shares of the company's stock after selling 341,851 shares during the period. Lombard Odier Asset Management Europe Ltd owned about 0.05% of Nextpower worth $6,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Nextpower during the fourth quarter valued at approximately $170,918,000. William Blair Investment Management LLC purchased a new stake in Nextpower during the third quarter valued at $108,739,000. Amundi lifted its holdings in Nextpower by 156.1% in the third quarter. Amundi now owns 2,111,628 shares of the company's stock valued at $161,600,000 after acquiring an additional 1,287,071 shares during the period. Electron Capital Partners LLC lifted its holdings in Nextpower by 2,017.7% in the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company's stock valued at $41,909,000 after acquiring an additional 539,668 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Nextpower by 142.3% in the fourth quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company's stock worth $73,879,000 after purchasing an additional 498,110 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Insider Activity at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $437,570.56. Following the sale, the insider owned 246,130 shares of the company's stock, valued at $33,158,633.60. This trade represents a 1.30% decrease in their position. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Nicholas Marco Miller sold 24,511 shares of Nextpower stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the transaction, the chief operating officer directly owned 221,533 shares of the company's stock, valued at approximately $28,205,581.56. This trade represents a 9.96% 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. Insiders sold 168,574 shares of company stock valued at $22,559,770 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

Nextpower Trading Down 0.2%

Shares of NXT opened at $125.62 on Wednesday. The company's fifty day simple moving average is $124.90 and its 200-day simple moving average is $111.84. The company has a market cap of $18.88 billion, a P/E ratio of 32.80, a P/E/G ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a twelve month low of $51.69 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) last released its earnings results 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 business had revenue of $880.52 million during the quarter, compared to the consensus estimate of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Analysts predict that Nextpower Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wolfe Research reiterated an "outperform" rating and issued a $160.00 price target on shares of Nextpower in a research report on Friday, May 29th. BMO Capital Markets raised their target price on Nextpower from $113.00 to $125.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. Jefferies Financial Group boosted their price target on Nextpower from $145.00 to $159.00 and gave the company a "buy" rating in a report on Friday, May 29th. Mizuho upped their price target on Nextpower from $130.00 to $142.00 and gave the stock a "neutral" rating in a research report on Monday, June 8th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $149.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $147.77.

Nextpower Company 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.

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