Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Buys 27,004 Shares of Nextpower Inc. $NXT

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Nextpower Inc. (NASDAQ:NXT) by 5,400.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 27,504 shares of the company’s stock after purchasing an additional 27,004 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Nextpower were worth $2,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Signature Equity Partners LLC boosted its stake in shares of Nextpower by 76.4% during the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares during the period. Continuum Advisory LLC acquired a new position in shares of Nextpower in the second quarter worth $37,000. Root Financial Partners LLC increased its stake in shares of Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after acquiring an additional 103 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of Nextpower in the second quarter worth $63,000. Finally, Westfuller Advisors LLC acquired a new position in shares of Nextpower in the first quarter worth $66,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Activity at Nextpower

In other Nextpower news, Director Julia Blunden sold 3,723 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $88.08, for a total transaction of $327,921.84. Following the transaction, the director owned 6,434 shares in the company, valued at $566,706.72. This trade represents a 36.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel Shugar sold 67,636 shares of Nextpower stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $103.07, for a total transaction of $6,971,242.52. Following the completion of the transaction, the chief executive officer directly owned 871,131 shares in the company, valued at approximately $89,787,472.17. This represents a 7.20% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 100,431 shares of company stock valued at $10,039,748. 0.84% of the stock is owned by company insiders.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $78.89 on Monday. The business’s 50-day simple moving average is $83.56 and its 200-day simple moving average is $105.15. Nextpower Inc. has a 52 week low of $75.40 and a 52 week high of $163.13. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.90 and a beta of 1.94.

Nextpower (NASDAQ:NXT) last posted its earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. The firm had revenue of $935.17 million during the quarter, compared to analyst estimates of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. As a group, equities research analysts forecast that Nextpower Inc. will post 3.80 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on NXT shares. Zacks Research lowered Nextpower from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Jefferies Financial Group set a $115.00 target price on Nextpower in a research note on Friday, October 16th. Glj Research reaffirmed a “buy” rating and issued a $149.00 target price on shares of Nextpower in a research report on Wednesday, August 5th. Freedom Capital raised Nextpower from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $168.00 price target on shares of Nextpower in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.77.

About Nextpower

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company’s product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.