Caxton Associates LLP Sells 6,426 Shares of Nextpower Inc. $NXT

Caxton Associates LLP lessened its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 44.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,973 shares of the company’s stock after selling 6,426 shares during the quarter. Caxton Associates LLP’s holdings in Nextpower were worth $961,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its position in Nextpower by 4.6% in the 4th quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after purchasing an additional 18,380 shares during the period. Assetmark Inc. lifted its holdings in shares of Nextpower by 342,159.2% during the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock valued at $37,268,000 after buying an additional 427,699 shares during the period. Andrew Hill Investment Advisors Inc. lifted its holdings in shares of Nextpower by 31.2% during the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock valued at $6,100,000 after buying an additional 16,666 shares during the period. Azzad Asset Management Inc. ADV purchased a new position in shares of Nextpower in the 4th quarter worth $988,000. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Nextpower by 215.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company’s stock worth $2,091,000 after buying an additional 16,388 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insider Activity at Nextpower

In other Nextpower news, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the transaction, the chief financial officer owned 358,500 shares of the company’s stock, valued at $54,416,715. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the completion of the transaction, the chief executive officer owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. The trade was a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 168,574 shares of company stock worth $22,559,770 in the last 90 days. Insiders own 0.84% of the company’s stock.

Nextpower Price Performance

Shares of NXT opened at $100.03 on Monday. The business has a 50-day simple moving average of $120.70 and a two-hundred day simple moving average of $116.27. Nextpower Inc. has a 52 week low of $52.61 and a 52 week high of $163.13. The stock has a market cap of $15.03 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.00 and a beta of 1.86.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.16. The firm had revenue of $880.52 million for the quarter, compared to analysts’ expectations of $826.26 million. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities analysts anticipate that Nextpower Inc. will post 3.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on NXT. Citigroup upped their price objective on Nextpower from $114.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Barclays raised their target price on Nextpower from $142.00 to $147.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Northland Securities boosted their price target on Nextpower from $148.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Robert W. Baird upped their price target on shares of Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $140.00 price target on shares of Nextpower in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.62.

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.