Federated Hermes Inc. Buys 5,964 Shares of Nextpower Inc. $NXT

Federated Hermes Inc. boosted its position in shares of Nextpower Inc. (NASDAQ:NXT) by 1.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 353,899 shares of the company’s stock after buying an additional 5,964 shares during the period. Federated Hermes Inc. owned approximately 0.24% of Nextpower worth $26,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares in the last quarter. Hantz Financial Services Inc. grew its position 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 last quarter. MAI Capital Management raised its stake in Nextpower by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after acquiring an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after acquiring an additional 724 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in shares of 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 purchasing an additional 1,279 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Nextpower news, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the transaction, the director owned 16,777 shares of the company’s stock, valued at approximately $1,540,967.45. The trade was a 37.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel S. Shugar sold 47,743 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the transaction, the chief executive officer owned 624,882 shares of the company’s stock, valued at approximately $57,039,228.96. The trade was a 7.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 91,468 shares of company stock worth $8,246,979 over the last quarter. Insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NXT. Jefferies Financial Group reissued a “buy” rating on shares of Nextpower in a research note on Wednesday. Wall Street Zen cut Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. BMO Capital Markets reissued a “market perform” rating and set a $104.00 price objective on shares of Nextpower in a report on Wednesday. Barclays set a $115.00 target price on Nextpower in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $119.00 price objective on shares of Nextpower in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.32.

Nextpower Trading Down 3.3%

Shares of NASDAQ NXT opened at $117.09 on Friday. The firm has a market capitalization of $17.37 billion, a P/E ratio of 29.95, a P/E/G ratio of 3.77 and a beta of 2.38. The firm’s 50-day moving average price is $93.85 and its 200-day moving average price is $81.99. Nextpower Inc. has a 1-year low of $36.06 and a 1-year high of $131.59.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $909.35 million for 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%. Equities research analysts forecast that Nextpower Inc. will post 3.29 EPS for the current 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.