Encompass Capital Advisors LLC Reduces Stock Holdings in Nextpower Inc. $NXT

Encompass Capital Advisors LLC reduced its holdings in Nextpower Inc. (NASDAQ:NXT) by 58.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 499,837 shares of the company’s stock after selling 691,746 shares during the period. Nextpower comprises 1.8% of Encompass Capital Advisors LLC’s holdings, making the stock its 15th biggest position. Encompass Capital Advisors LLC owned about 0.34% of Nextpower worth $43,541,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Cinctive Capital Management LP purchased a new stake in shares of Nextpower in the 4th quarter valued at $4,605,000. Aventail Capital Group LP purchased a new stake in Nextpower during the fourth quarter worth $6,323,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in Nextpower during the fourth quarter worth $205,000. Altshuler Shaham Ltd boosted its holdings in Nextpower by 6.2% during the fourth quarter. Altshuler Shaham Ltd now owns 13,424 shares of the company’s stock worth $1,169,000 after buying an additional 780 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in Nextpower by 12.7% during the fourth quarter. Guggenheim Capital LLC now owns 9,544 shares of the company’s stock worth $831,000 after buying an additional 1,078 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Performance

NASDAQ:NXT opened at $123.31 on Thursday. The company has a fifty day moving average of $125.21 and a two-hundred day moving average of $112.07. The stock has a market capitalization of $18.53 billion, a PE ratio of 32.20, a P/E/G ratio of 2.98 and a beta of 1.73. Nextpower Inc. has a fifty-two week low of $51.69 and a fifty-two week high of $163.13.

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 analysts’ consensus estimates 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 net margin of 16.46% and a return on equity of 28.18%. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. Research analysts forecast that Nextpower Inc. will post 3.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NXT shares. Susquehanna increased their price target on shares of Nextpower from $161.00 to $180.00 and gave the stock a “positive” rating in a report on Monday, June 1st. KeyCorp increased their price target on shares of Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. The Goldman Sachs Group set a $140.00 price target on shares of Nextpower and gave the stock a “buy” rating in a report on Tuesday, April 14th. Wall Street Zen downgraded shares of Nextpower from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Loop Capital set a $135.00 price target on shares of Nextpower in a report on Wednesday, May 13th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.77.

Insider Transactions at Nextpower

In other news, CEO Daniel S. Shugar sold 26,077 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total value of $3,513,093.44. Following the transaction, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at approximately $125,480,767.68. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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, COO Nicholas Marco Miller sold 24,511 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer directly owned 221,533 shares in the company, valued at approximately $28,205,581.56. This represents a 9.96% 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. In the last quarter, insiders sold 168,574 shares of company stock valued at $22,559,770. Company insiders own 0.56% of the company’s stock.

Nextpower 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.