Amundi Sells 122,913 Shares of Nextpower Inc. $NXT

Amundi decreased its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 824,557 shares of the company’s stock after selling 122,913 shares during the quarter. Amundi owned about 0.56% of Nextpower worth $43,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its holdings in Nextpower by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Nextpower by 703.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after buying an additional 577 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after acquiring an additional 782 shares during the last quarter. MAI Capital Management grew its position in shares of Nextpower by 309.4% during the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after buying an additional 628 shares during the period. Finally, Summit Securities Group LLC grew its stake in shares of Nextpower by 796.0% during the first quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after purchasing an additional 804 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Stock Performance

Shares of NXT opened at $88.58 on Wednesday. The firm has a market capitalization of $13.14 billion, a P/E ratio of 23.01, a P/E/G ratio of 3.11 and a beta of 2.35. The stock has a 50 day moving average price of $91.15 and a two-hundred day moving average price of $72.66. Nextpower Inc. has a 52 week low of $33.29 and a 52 week high of $112.74.

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

Insider Activity

In related news, President Howard Wenger sold 5,217 shares of Nextpower stock in a transaction on 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 sale, the president owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $67.21, for a total transaction of $302,445.00. Following the completion of the transaction, the chief financial officer owned 295,059 shares of the company’s stock, valued at $19,830,915.39. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 67,460 shares of company stock worth $5,970,201 in the last three months. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

NXT has been the topic of several recent analyst reports. Mizuho set a $76.00 target price on Nextpower in a report on Monday, October 20th. Cowen restated a “hold” rating on shares of Nextpower in a research note on Friday, October 24th. Guggenheim set a $74.00 price target on Nextpower in a report on Wednesday, October 22nd. Zacks Research raised Nextpower to a “hold” rating in a report on Tuesday, August 12th. Finally, Wells Fargo & Company upped their target price on Nextpower from $72.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.76.

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.