Nextpower Inc. $NXT Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its position in Nextpower Inc. (NASDAQ:NXT) by 26.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 714,404 shares of the company’s stock after selling 258,500 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.48% of Nextpower worth $52,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its holdings in 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. raised its stake in shares of 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 buying an additional 782 shares in the last quarter. MAI Capital Management lifted its holdings in shares of Nextpower by 309.4% in the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after buying an additional 628 shares during the period. EverSource Wealth Advisors LLC boosted its stake 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 valued at $61,000 after buying an additional 724 shares in the last quarter. Finally, Fifth Third Bancorp boosted 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 in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Price Performance

NXT stock opened at $116.44 on Tuesday. The company’s 50 day simple moving average is $100.10 and its 200-day simple moving average is $86.58. The firm has a market capitalization of $17.29 billion, a PE ratio of 29.78, a P/E/G ratio of 3.42 and a beta of 2.34. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59.

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho set a $81.00 price objective on Nextpower in a research report on Friday, January 23rd. Guggenheim set a $74.00 price target on shares of Nextpower in a research note on Wednesday, October 22nd. Barclays set a $115.00 price objective on shares of Nextpower in a research note on Thursday, January 29th. Robert W. Baird set a $126.00 target price on shares of Nextpower in a research report on Wednesday, January 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $104.00 target price on shares of Nextpower in a report on Wednesday, January 28th. One 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.32.

Insider Buying and Selling at Nextpower

In related news, CAO David P. Bennett sold 33,725 shares of Nextpower stock in a transaction dated Thursday, December 11th. The stock was 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 in the company, valued at approximately $11,535,573.36. This trade represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 5,000 shares of the business’s stock in a transaction dated 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is owned by corporate insiders.

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.