Nextpower Inc. $NXT Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Nextpower Inc. (NASDAQ:NXT) by 160.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,922 shares of the company’s stock after acquiring an additional 49,214 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.05% of Nextpower worth $5,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Nextpower in the 2nd quarter worth approximately $140,772,000. Encompass Capital Advisors LLC increased its holdings in shares of Nextpower by 72.5% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after purchasing an additional 1,105,617 shares during the period. Wedge Capital Management L L P NC purchased a new position in Nextpower during the second quarter valued at approximately $58,122,000. T. Rowe Price Investment Management Inc. purchased a new stake in Nextpower in the 1st quarter worth approximately $38,699,000. Finally, Driehaus Capital Management LLC purchased a new position in shares of Nextpower during the 1st quarter valued at $32,225,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Stock Performance

Nextpower stock opened at $88.70 on Monday. Nextpower Inc. has a 52 week low of $33.29 and a 52 week high of $112.74. The firm has a market cap of $13.16 billion, a P/E ratio of 23.04, a P/E/G ratio of 3.08 and a beta of 2.35. The business’s fifty day moving average is $92.62 and its two-hundred day moving average is $74.47.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Royal Bank Of Canada upped their price target on Nextpower from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. UBS Group boosted their price objective on Nextpower to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their target price on shares of Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Barclays boosted their price objective on Nextpower from $92.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.76.

Insider Buying and Selling at Nextpower

In other news, CAO David P. Bennett sold 33,725 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value of $2,970,498.00. Following the transaction, the chief accounting officer owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This trade represents a 20.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel S. Shugar sold 47,743 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $91.28, for a total value of $4,357,981.04. Following the completion of the sale, the chief executive officer owned 624,882 shares of the company’s stock, valued at $57,039,228.96. This represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 96,685 shares of company stock valued at $8,638,254. 0.56% of the stock is currently owned by company insiders.

About Nextpower

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.