Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 7,772 Nextpower Inc. $NXT

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Nextpower Inc. (NASDAQ:NXT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,772 shares of the company’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. increased its position in Nextpower by 122.3% in the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Nextpower by 703.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after purchasing an additional 577 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Nextpower by 1,737.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after buying an additional 782 shares in the last quarter. Summit Securities Group LLC increased its holdings in shares of Nextpower by 796.0% in the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after buying an additional 804 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Nextpower in the 1st quarter worth about $40,000. 67.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NXT. Deutsche Bank Aktiengesellschaft set a $99.00 price target on shares of Nextpower and gave the company a “buy” rating in a report on Friday, October 24th. Mizuho set a $76.00 target price on Nextpower in a report on Monday, October 20th. Barclays boosted their target price on Nextpower from $92.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. The Goldman Sachs Group raised their price target on Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, BMO Capital Markets boosted their price objective on shares of Nextpower from $89.00 to $93.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.76.

Insider Activity at Nextpower

In related news, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the completion of the sale, the chief executive officer owned 624,882 shares in the company, valued at $57,039,228.96. This trade represents a 7.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Howard Wenger sold 5,217 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the transaction, the president owned 409,039 shares in the company, valued at $30,677,925. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 67,460 shares of company stock worth $5,970,201. 0.56% of the stock is currently owned by corporate insiders.

Nextpower Stock Down 4.3%

NXT opened at $85.82 on Friday. The business has a fifty day moving average of $86.49 and a 200 day moving average of $69.07. Nextpower Inc. has a 52-week low of $33.29 and a 52-week high of $112.74. The stock has a market cap of $12.73 billion, a P/E ratio of 22.29, a PEG ratio of 3.11 and a beta of 2.31.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. The business had revenue of $905.27 million for the quarter, compared to analyst estimates of $839.53 million. Nextpower had a return on equity of 35.05% and a net margin of 17.08%. Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Equities analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Nextpower Company Profile

Nextpower, formerly known as Nextracker, an energy solutions company, provides solar trackers and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.