OP Asset Management Ltd Acquires Shares of 31,550 Nextpower Inc. $NXT

Key Points

• OP Asset Management opened a new position in Nextpower, buying 31,550 shares valued at about $3.8 million in the first quarter.
• Nextpower shares were down 5.5% and opened at $106.95, with the stock trading below its 50-day average but above its 12-month low. The company still carries a market cap of about $16.07 billion.
• Despite recent insider selling, Nextpower posted a Q1 earnings beat with EPS of $1.05 versus $0.89 expected and revenue of $880.5 million, while analysts maintain a Moderate Buy consensus and a target price of $147.52.

OP Asset Management Ltd acquired a new stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 31,550 shares of the company's stock, valued at approximately $3,803,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NXT. Smartleaf Asset Management LLC boosted its stake in 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 purchasing an additional 155 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Nextpower by 268.7% in the fourth 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 last quarter. Huntington National Bank raised its stake in shares of Nextpower by 480.3% in the fourth quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after purchasing an additional 317 shares during the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Nextpower in the third quarter valued at approximately $36,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of Nextpower by 76.5% in 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.

Nextpower Trading Down 5.5%

Shares of Nextpower stock opened at $106.95 on Friday. The business's fifty day simple moving average is $126.10 and its 200 day simple moving average is $113.41. Nextpower Inc. has a 12 month low of $51.69 and a 12 month high of $163.13. The firm has a market capitalization of $16.07 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.66 and a beta of 1.73.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.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. Analysts predict that Nextpower Inc. will post 3.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NXT shares. Needham & Company LLC reiterated a "buy" rating and set a $149.00 price target on shares of Nextpower in a report on Friday, May 29th. Jefferies Financial Group set a $153.00 price objective on Nextpower in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Nextpower from $143.00 to $151.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. TD Cowen upped their target price on shares of Nextpower from $105.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets increased their target price on shares of Nextpower from $113.00 to $125.00 and gave the company a "market perform" rating in a report on Wednesday, May 13th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Nextpower presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.52.

Insider Activity at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total value of $683,055.00. Following the sale, the chief financial officer owned 358,500 shares of the company's stock, valued at approximately $54,416,715. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer owned 221,533 shares in the company, valued at approximately $28,205,581.56. The trade was a 9.96% 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 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 company 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.

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