New York State Teachers Retirement System Purchases 5,700 Shares of Nextpower Inc. $NXT

New York State Teachers Retirement System raised its position in shares of Nextpower Inc. (NASDAQ:NXT) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,939 shares of the company’s stock after buying an additional 5,700 shares during the quarter. New York State Teachers Retirement System’s holdings in Nextpower were worth $10,206,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Nextpower during the 2nd quarter valued at approximately $140,772,000. Wedge Capital Management L L P NC purchased a new stake in Nextpower during the second quarter valued at $58,122,000. American Century Companies Inc. lifted its position in Nextpower by 144.6% during the second quarter. American Century Companies Inc. now owns 547,590 shares of the company’s stock valued at $29,772,000 after purchasing an additional 323,717 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Nextpower by 93.3% in the 3rd quarter. Voya Investment Management LLC now owns 613,634 shares of the company’s stock worth $45,403,000 after buying an additional 296,232 shares in the last quarter. Finally, Encompass Capital Advisors LLC increased its holdings in shares of Nextpower by 11.0% in the 2nd quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock worth $158,748,000 after buying an additional 289,663 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Down 5.5%

NXT opened at $94.71 on Thursday. The business has a fifty day moving average of $91.36 and a 200 day moving average of $78.47. The stock has a market cap of $14.05 billion, a P/E ratio of 24.60, a PEG ratio of 3.46 and a beta of 2.38. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $112.74.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.21. The business had revenue of $905.27 million during the quarter, compared to the consensus estimate of $839.53 million. Nextpower had a return on equity of 35.05% and a net margin of 17.08%.Nextpower has set its FY 2026 guidance at 4.040-4.250 EPS. Equities analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. BMO Capital Markets increased their price target on shares of Nextpower from $89.00 to $93.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Robert W. Baird set a $100.00 price objective on Nextpower in a research note on Friday, October 31st. Jefferies Financial Group cut Nextpower from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Mizuho set a $76.00 price target on Nextpower in a report on Monday, October 20th. Finally, Barclays raised their price target on Nextpower from $105.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and an average target price of $98.57.

Insider Activity at Nextpower

In other news, CEO Daniel S. Shugar sold 47,743 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the transaction, the chief executive officer directly owned 624,882 shares of the company’s stock, valued at approximately $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David P. Bennett sold 33,725 shares of Nextpower stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the sale, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at $11,535,573.36. This represents a 20.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 91,468 shares of company stock worth $8,246,979 in the last 90 days. 0.56% of the stock is owned by corporate insiders.

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.