Hollencrest Capital Management Makes New Investment in Nextpower Inc. $NXT

Hollencrest Capital Management bought a new stake in shares of Nextpower Inc. (NASDAQ:NXT) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,658 shares of the company’s stock, valued at approximately $682,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after buying an additional 71,842 shares during the last quarter. M&T Bank Corp bought a new position in Nextpower in the second quarter worth about $223,000. EverSource Wealth Advisors LLC boosted its stake in Nextpower by 179.7% in the second 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. Cerity Partners LLC boosted its stake in Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company’s stock valued at $1,008,000 after acquiring an additional 11,239 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company’s stock worth $12,122,000 after purchasing an additional 59,573 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of analyst reports. Truist Financial assumed coverage on Nextpower in a research report on Monday, July 13th. They set a “buy” rating and a $140.00 price objective for the company. Mizuho increased their target price on Nextpower from $130.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. UBS Group reiterated a “buy” rating and issued a $170.00 target price on shares of Nextpower in a research note on Friday, May 29th. KeyCorp boosted their price target on shares of Nextpower from $152.00 to $164.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Wall Street Zen lowered shares of Nextpower from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.10.

Insider Activity at Nextpower

In other news, insider Bruce Ledesma sold 3,248 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total transaction of $437,570.56. Following the transaction, the insider directly owned 246,130 shares of the company’s stock, valued at approximately $33,158,633.60. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, CEO Daniel S. Shugar sold 26,077 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 931,419 shares of the company’s stock, valued at $125,480,767.68. The trade was a 2.72% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 168,574 shares of company stock valued at $22,559,770. 0.84% of the stock is owned by corporate insiders.

Nextpower Price Performance

Shares of NXT stock opened at $103.10 on Monday. Nextpower Inc. has a 12-month low of $52.61 and a 12-month high of $163.13. The firm has a market capitalization of $15.49 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.86. The business has a 50 day simple moving average of $123.89 and a 200 day simple moving average of $115.77.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, May 12th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.16. Nextpower had a return on equity of 28.18% and a net margin of 16.46%.The firm had revenue of $880.52 million for the quarter, compared to the consensus estimate of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities analysts anticipate that Nextpower Inc. will post 3.75 EPS for the current fiscal year.

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.