Nextpower Inc. $NXT Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of Nextpower Inc. (NASDAQ:NXT) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 503,642 shares of the company’s stock after acquiring an additional 15,880 shares during the quarter. Rhumbline Advisers’ holdings in Nextpower were worth $37,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. grew its holdings in shares of Nextpower by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the period. Hantz Financial Services Inc. grew its stake in Nextpower by 1,737.8% during the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after buying an additional 782 shares during the period. MAI Capital Management increased its position in shares of Nextpower by 309.4% in 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 raised its stake in shares of Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after acquiring an additional 724 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Nextpower by 42,633.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock valued at $95,000 after acquiring an additional 1,279 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NXT shares. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. Jefferies Financial Group downgraded Nextpower from a “strong-buy” rating to a “hold” rating in a report on Sunday, February 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $119.00 price target on shares of Nextpower in a research report on Thursday, January 29th. Guggenheim set a $74.00 price objective on shares of Nextpower in a research report on Wednesday, October 22nd. Finally, UBS Group boosted their target price on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and an average target price of $108.32.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 47,743 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $91.28, for a total value of $4,357,981.04. Following the completion of the sale, the chief executive officer directly owned 624,882 shares in the company, valued at approximately $57,039,228.96. The trade was a 7.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction 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 sale, the chief accounting officer owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. The trade was a 20.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 96,468 shares of company stock valued at $8,839,829 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Up 1.9%

Shares of NXT opened at $116.44 on Friday. The firm has a market cap of $17.29 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 3.42 and a beta of 2.35. The business’s 50 day moving average is $99.57 and its two-hundred day moving average is $85.97. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $131.59.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. On average, 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.