Federated Hermes Inc. Sells 19,845 Shares of Nextpower Inc. $NXT

Federated Hermes Inc. trimmed its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 347,935 shares of the company’s stock after selling 19,845 shares during the period. Federated Hermes Inc. owned 0.24% of Nextpower worth $18,917,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NXT. Norges Bank purchased a new position in shares of Nextpower during the second quarter valued at about $140,772,000. Wellington Management Group LLP boosted its stake in Nextpower by 56.5% during the first quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock valued at $220,722,000 after buying an additional 1,890,445 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in Nextpower by 72.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after buying an additional 1,105,617 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Nextpower in the 2nd quarter worth approximately $58,122,000. Finally, Nuveen LLC purchased a new stake in shares of Nextpower during the 1st quarter worth approximately $40,356,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Nextpower from $76.00 to $100.00 and gave the company a “positive” rating in a report on Monday, October 13th. Wall Street Zen cut shares of Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Cowen restated a “hold” rating on shares of Nextpower in a report on Friday, October 24th. BMO Capital Markets increased their price target on shares of Nextpower from $89.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Finally, Deutsche Bank Aktiengesellschaft set a $99.00 price target on Nextpower and gave the stock a “buy” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and an average price target of $95.76.

Nextpower Price Performance

Nextpower stock opened at $89.39 on Thursday. The firm has a market capitalization of $13.26 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 3.07 and a beta of 2.35. Nextpower Inc. has a 1-year low of $33.29 and a 1-year high of $112.74. The company’s 50-day moving average is $91.42 and its 200 day moving average is $72.78.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a return on equity of 35.05% and a net margin of 17.08%.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. Research analysts anticipate that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Howard Wenger sold 5,217 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the sale, the president directly owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated 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 directly owned 295,059 shares in the company, valued at $19,830,915.39. This represents a 1.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 67,460 shares of company stock worth $5,970,201. Insiders own 0.56% of the company’s stock.

About Nextpower

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.