CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases 20,000 Shares of Nextpower Inc. $NXT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Nextpower Inc. (NASDAQ:NXT) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.07% of Nextpower worth $7,917,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nextpower by 703.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after purchasing an additional 577 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Nextpower by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after buying an additional 324 shares during the period. Hantz Financial Services Inc. grew its holdings in Nextpower by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after acquiring an additional 782 shares during the last quarter. MAI Capital Management increased its position in Nextpower by 309.4% in the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after acquiring an additional 628 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after acquiring an additional 724 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on NXT. Wells Fargo & Company boosted their price objective on shares of Nextpower from $72.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Guggenheim set a $74.00 target price on Nextpower in a report on Wednesday, October 22nd. Citigroup upgraded Nextpower from a “neutral” rating to a “buy” rating and upped their price target for the company from $66.00 to $114.00 in a research report on Tuesday, October 21st. Barclays raised their price objective on Nextpower from $92.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, TD Cowen upped their target price on Nextpower from $65.00 to $88.00 and gave the company a “hold” rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.76.

Nextpower Stock Down 3.5%

NASDAQ:NXT opened at $87.04 on Wednesday. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $112.74. The company has a fifty day moving average of $92.90 and a 200-day moving average of $76.01. The firm has a market capitalization of $12.92 billion, a P/E ratio of 22.61, a P/E/G ratio of 3.13 and a beta of 2.35.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.21. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. The business had revenue of $905.27 million during 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, analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In related news, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the completion of the sale, the director directly owned 16,777 shares of the company’s stock, valued at $1,540,967.45. The trade was a 37.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $91.28, for a total value of $4,357,981.04. Following the transaction, the chief executive officer directly owned 624,882 shares in the company, valued at approximately $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 91,468 shares of company stock worth $8,246,979 in the last three months. Company insiders own 0.56% of the company’s stock.

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.