Legato Capital Management LLC Buys Shares of 10,345 Nextpower Inc. $NXT

Legato Capital Management LLC purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,345 shares of the company’s stock, valued at approximately $765,000.

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

Insider Activity at Nextpower

In other news, CAO David P. Bennett sold 33,725 shares of the firm’s 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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William D. Watkins sold 5,000 shares of Nextpower 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 sale, the director owned 11,777 shares of the company’s stock, valued at $1,396,398.89. This represents a 29.80% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating and set a $104.00 price target on shares of Nextpower in a report on Wednesday, January 28th. Robert W. Baird set a $126.00 price objective on Nextpower in a report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $119.00 target price on shares of Nextpower in a research report on Thursday, January 29th. Finally, Jefferies Financial Group lowered Nextpower from a “strong-buy” rating to a “hold” rating in a research report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and an average price target of $108.32.

Nextpower Stock Down 2.5%

Shares of NASDAQ NXT opened at $101.16 on Wednesday. The company has a market capitalization of $15.02 billion, a PE ratio of 25.87, a P/E/G ratio of 3.05 and a beta of 2.41. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $131.59. The firm has a fifty day simple moving average of $105.60 and a 200 day simple moving average of $91.08.

Nextpower (NASDAQ:NXT) last issued its quarterly 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. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million for the quarter, compared to analysts’ expectations of $812.43 million. As a group, equities analysts expect that Nextpower Inc. will post 3.29 earnings per share 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.