Nextpower Inc. $NXT Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in Nextpower Inc. (NASDAQ:NXT) by 3.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,224,599 shares of the company’s stock after selling 78,607 shares during the quarter. Nextpower makes up 0.5% of Handelsbanken Fonder AB’s holdings, making the stock its 26th largest position. Handelsbanken Fonder AB’s holdings in Nextpower were worth $164,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its holdings in Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after acquiring an additional 782 shares during the period. MAI Capital Management increased its holdings in shares of Nextpower by 309.4% during the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after purchasing an additional 724 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Nextpower by 15.9% in the 3rd quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after purchasing an additional 173 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in Nextpower by 42,633.3% during the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after buying an additional 1,279 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on NXT. Needham & Company LLC lifted their price objective on shares of Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Roth Mkm restated a “buy” rating and set a $130.00 target price on shares of Nextpower in a research report on Wednesday, January 28th. Robert W. Baird set a $126.00 price target on Nextpower in a report on Wednesday, January 28th. Jefferies Financial Group downgraded Nextpower from a “strong-buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Northland Securities set a $111.00 price objective on Nextpower in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.32.

Nextpower Trading Down 8.3%

Shares of Nextpower stock opened at $106.86 on Friday. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $131.59. The firm has a market capitalization of $15.87 billion, a PE ratio of 27.33, a P/E/G ratio of 3.43 and a beta of 2.35. The firm’s 50-day moving average price is $104.84 and its 200 day moving average price is $89.59.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $909.35 million during the quarter, compared to analysts’ expectations of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. On average, sell-side analysts predict that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity at Nextpower

In related news, CAO David P. Bennett sold 33,725 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $88.08, for a total value of $2,970,498.00. Following the completion of the transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Watkins sold 5,000 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares in the company, valued at $1,396,398.89. The trade was a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.56% of the stock is currently owned by insiders.

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.