New Age Alpha Advisors LLC Trims Position in Nextpower Inc. $NXT

Key Points

• New Age Alpha Advisors LLC cut its Nextpower stake by 32.9% in Q4, selling 35,684 shares and ending with 72,696 shares valued at about $6.33 million.
• Nextpower reported strong quarterly results, with EPS of $1.05 topping estimates of $0.89 and revenue of $880.52 million beating expectations; the company also raised FY 2027 guidance to 4.210-4.590 EPS.
• Analysts remain broadly positive on the stock, with several firms raising price targets and the consensus rating sitting at “Moderate Buy” with an average target of $136.54. Insider selling also occurred, including stock sales by the COO and president under Rule 10b5-1 plans.

New Age Alpha Advisors LLC lessened its holdings in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 32.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,696 shares of the company's stock after selling 35,684 shares during the quarter. New Age Alpha Advisors LLC's holdings in Nextpower were worth $6,333,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted 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 acquiring an additional 223 shares during the last quarter. Baillie Gifford & Co. lifted its position in Nextpower by 76.5% in the 4th quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock worth $37,000 after buying an additional 182 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new stake in Nextpower in the third quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. lifted its position in Nextpower by 511.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company's stock valued at $37,000 after purchasing an additional 414 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in Nextpower by 324.8% in the fourth quarter. Rakuten Securities Inc. now owns 514 shares of the company's stock valued at $45,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Nextpower Stock Performance

NASDAQ:NXT opened at $130.50 on Monday. Nextpower Inc. has a 12-month low of $51.69 and a 12-month high of $156.78. The stock has a 50-day moving average price of $119.89 and a 200 day moving average price of $107.32. The stock has a market capitalization of $19.38 billion, a P/E ratio of 34.07, a P/E/G ratio of 3.21 and a beta of 1.60.

Nextpower (NASDAQ:NXT - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.16. The firm had revenue of $880.52 million during the quarter, compared to analysts' expectations 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. On average, research analysts predict that Nextpower Inc. will post 3.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NXT shares. Needham & Company LLC boosted their target price on Nextpower from $103.00 to $138.00 and gave the company a "buy" rating in a research note on Thursday, January 29th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $145.00 price target on shares of Nextpower in a research note on Wednesday, May 13th. Susquehanna increased their target price on Nextpower from $136.00 to $161.00 and gave the stock a "positive" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on Nextpower from $125.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. Finally, Citigroup upped their price target on Nextpower from $114.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $136.54.

Insider Buying and Selling at Nextpower

In other news, COO Nicholas Marco Miller sold 24,511 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the sale, the chief operating officer directly owned 221,533 shares of the company's stock, valued at $28,205,581.56. This trade represents a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 16,090 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $2,048,578.80. Following the completion of the sale, the president directly owned 508,582 shares of the company's stock, valued at $64,752,660.24. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 139,949 shares of company stock worth $15,452,995 in the last quarter. 0.56% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding NXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nextpower Inc. (NASDAQ:NXT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.