Union Bancaire Privee UBP SA Boosts Stock Holdings in Nextpower Inc. $NXT

by · The Cerbat Gem

Union Bancaire Privee UBP SA lifted its position in Nextpower Inc. (NASDAQ:NXT – Free Report) by 187.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,758 shares of the company’s stock after purchasing an additional 61,087 shares during the period. Union Bancaire Privee UBP SA owned about 0.06% of Nextpower worth $11,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NXT. Jupiter Asset Management Ltd. raised its position in shares of Nextpower by 0.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after acquiring an additional 86 shares during the period. Signaturefd LLC raised its holdings in Nextpower by 4.1% in the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after purchasing an additional 126 shares during the period. Allworth Financial LP boosted its position in Nextpower by 16.8% during the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock worth $72,000 after purchasing an additional 141 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Nextpower by 12.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,314 shares of the company’s stock worth $114,000 after purchasing an additional 143 shares in the last quarter. Finally, Evexia Wealth LLC grew its holdings in Nextpower by 2.2% in the first quarter. Evexia Wealth LLC now owns 6,620 shares of the company’s stock valued at $738,000 after purchasing an additional 143 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Down 5.5%

Shares of NASDAQ NXT opened at $106.95 on Friday. The firm has a 50-day simple moving average of $126.10 and a 200-day simple moving average of $113.41. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.66 and a beta of 1.73. Nextpower Inc. has a 52 week low of $51.69 and a 52 week high of $163.13.

Nextpower (NASDAQ:NXT – Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $880.52 million for the quarter, compared to analyst estimates 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. As a group, equities research analysts expect that Nextpower Inc. will post 3.71 EPS for the current year.

Insiders Place Their Bets

In other Nextpower news, insider Bruce Ledesma sold 3,248 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $134.72, for a total value of $437,570.56. Following the completion of the sale, the insider directly owned 246,130 shares in the company, valued at $33,158,633.60. This represents a 1.30% decrease in their position. The sale was disclosed in a filing 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Nicholas Marco Miller sold 22,427 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.00, for a total value of $3,498,612.00. Following the completion of the sale, the chief operating officer owned 186,194 shares of the company’s stock, valued at approximately $29,046,264. The trade was a 10.75% 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. Over the last ninety days, insiders sold 168,574 shares of company stock valued at $22,559,770. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NXT. UBS Group reiterated a “buy” rating and set a $170.00 target price on shares of Nextpower in a research report on Friday, May 29th. Roth Mkm reaffirmed a “buy” rating and set a $155.00 price objective on shares of Nextpower in a report on Wednesday, May 13th. Jefferies Financial Group set a $153.00 target price on shares of Nextpower in a research report on Friday. Citigroup upped their price target on shares of Nextpower from $114.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada raised their price target on shares of Nextpower from $146.00 to $149.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.52.

View Our Latest Stock Analysis on NXT

Nextpower Company Profile

(Free Report)

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.

Further Reading