Nextpower Inc. $NXT Position Reduced by Fox Run Management L.L.C.

Fox Run Management L.L.C. trimmed its position in Nextpower Inc. (NASDAQ:NXT) by 87.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,378 shares of the company’s stock after selling 37,818 shares during the quarter. Fox Run Management L.L.C.’s holdings in Nextpower were worth $398,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Nextpower in the 2nd quarter worth approximately $140,772,000. Allianz Asset Management GmbH lifted its holdings in shares of Nextpower by 938.0% in the third quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company’s stock valued at $58,788,000 after purchasing an additional 717,991 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Nextpower by 144.6% in the second quarter. American Century Companies Inc. now owns 547,590 shares of the company’s stock worth $29,772,000 after buying an additional 323,717 shares during the period. Voya Investment Management LLC grew its holdings in shares of Nextpower by 93.3% during the third quarter. Voya Investment Management LLC now owns 613,634 shares of the company’s stock valued at $45,403,000 after buying an additional 296,232 shares in the last quarter. Finally, Encompass Capital Advisors LLC grew its holdings in shares of Nextpower by 11.0% during the second quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock valued at $158,748,000 after buying an additional 289,663 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Buying and Selling

In other Nextpower news, Director William D. Watkins sold 5,000 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $118.57, for a total transaction of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares of the company’s stock, valued at $1,396,398.89. The trade was a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David P. Bennett sold 33,725 shares of the company’s stock in a transaction dated 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 owned 130,967 shares of the company’s stock, valued at $11,535,573.36. This trade represents a 20.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

NXT has been the subject of a number of research reports. Barclays set a $115.00 price objective on Nextpower in a research report on Thursday, January 29th. Wall Street Zen cut shares of Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. Royal Bank Of Canada boosted their price objective on shares of Nextpower from $93.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $119.00 price objective on shares of Nextpower in a research note on Thursday, January 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $108.32.

Nextpower Trading Down 1.6%

NXT stock opened at $105.10 on Monday. The firm has a market cap of $15.61 billion, a PE ratio of 26.88, a PEG ratio of 3.09 and a beta of 2.41. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59. The company has a fifty day simple moving average of $105.17 and a 200 day simple moving average of $90.44.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The firm had revenue of $909.35 million for the quarter, compared to the consensus estimate of $812.43 million. As a group, analysts forecast that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

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.