Catalyst Capital Advisors LLC Invests $2.39 Million in Nextpower Inc. $NXT

Catalyst Capital Advisors LLC acquired a new stake in shares of Nextpower Inc. (NASDAQ:NXT) in the first quarter, HoldingsChannel.com reports. The firm acquired 19,850 shares of the company’s stock, valued at approximately $2,393,000.

Several other institutional investors and hedge funds have also modified their holdings of NXT. Norges Bank bought a new stake in shares of Nextpower during the fourth quarter valued at approximately $170,918,000. Amundi lifted its holdings in Nextpower by 156.1% during the 3rd quarter. Amundi now owns 2,111,628 shares of the company’s stock worth $161,600,000 after buying an additional 1,287,071 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in Nextpower by 2,017.7% during the 3rd quarter. Electron Capital Partners LLC now owns 566,415 shares of the company’s stock worth $41,909,000 after buying an additional 539,668 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Nextpower by 142.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 848,110 shares of the company’s stock valued at $73,879,000 after buying an additional 498,110 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Nextpower by 342,159.2% in 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 last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In related news, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total value of $8,162,767.50. Following the sale, the president owned 426,467 shares of the company’s stock, valued at approximately $55,547,326.75. The trade was a 12.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $151.79, for a total value of $683,055.00. Following the transaction, the chief financial officer directly owned 358,500 shares in the company, valued at $54,416,715. This trade represents a 1.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 168,574 shares of company stock valued at $22,559,770 in the last three months. 0.84% of the stock is currently owned by insiders.

Nextpower Stock Down 3.5%

Shares of NASDAQ NXT opened at $103.10 on Friday. The company’s fifty day moving average is $123.89 and its 200-day moving average is $115.59. Nextpower Inc. has a twelve month low of $52.61 and a twelve month high of $163.13. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.12 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, topping the consensus estimate of $0.89 by $0.16. The company had revenue of $880.52 million during 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, research analysts anticipate that Nextpower Inc. will post 3.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Nextpower from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Truist Financial assumed coverage on shares of Nextpower in a report on Monday. They set a “buy” rating and a $140.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $168.00 target price on shares of Nextpower in a research report on Wednesday, July 1st. Needham & Company LLC restated a “buy” rating and issued a $149.00 price target on shares of Nextpower in a research report on Friday, May 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $170.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $150.10.

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.