Formuepleje A S Acquires New Holdings in Nextpower Inc. $NXT

Formuepleje A S bought a new stake in Nextpower Inc. (NASDAQ:NXT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,043 shares of the company’s stock, valued at approximately $783,000.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC grew its stake in Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after purchasing an additional 103 shares during the last quarter. Signature Equity Partners LLC raised its stake in shares of Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Nextpower by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock worth $719,000 after purchasing an additional 119 shares during the last quarter. Evexia Wealth LLC lifted its holdings in shares of Nextpower by 2.2% during the first quarter. Evexia Wealth LLC now owns 6,620 shares of the company’s stock worth $738,000 after purchasing an additional 143 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Nextpower by 4.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,810 shares of the company’s stock worth $459,000 after purchasing an additional 173 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXT has been the topic of several recent research reports. Susquehanna lowered their price target on shares of Nextpower from $157.00 to $150.00 and set a “positive” rating on the stock in a report on Wednesday. Truist Financial raised their target price on Nextpower from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Piper Sandler reduced their price target on Nextpower from $116.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. TD Cowen upgraded Nextpower to a “hold” rating in a research report on Monday, October 5th. Finally, Barclays decreased their target price on shares of Nextpower from $147.00 to $146.00 and set an “overweight” rating for the company in a research note on Tuesday. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $142.08.

Insider Activity

In related news, Director Brandi Thomas sold 7,415 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total transaction of $676,618.75. Following the completion of the transaction, the director owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. This trade represents a 48.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles D. Boynton sold 4,500 shares of Nextpower stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $79.98, for a total value of $359,910.00. Following the completion of the sale, the chief financial officer directly owned 354,000 shares of the company’s stock, valued at $28,312,920. The trade was a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,431 shares of company stock valued at $10,039,748 in the last quarter. Insiders own 0.84% of the company’s stock.

Nextpower Trading Up 0.8%

NASDAQ:NXT traded up $0.64 during trading hours on Thursday, reaching $83.20. 1,357,250 shares of the company were exchanged, compared to its average volume of 2,378,758. The stock’s 50-day moving average is $86.74 and its 200-day moving average is $106.89. Nextpower Inc. has a twelve month low of $76.71 and a twelve month high of $163.13. The firm has a market cap of $12.62 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.94.

Nextpower (NASDAQ:NXT) last released its quarterly 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. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The firm had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. As a group, research analysts anticipate that Nextpower Inc. will post 3.77 EPS for the current year.

Nextpower Profile

Nextracker Inc (NASDAQ:NXT) is a renewable energy technology company that designs and supplies intelligent solar tracking systems for utility-scale and large distributed-generation photovoltaic projects. Its systems help solar panels follow the sun throughout the day, improving energy production and supporting the development of large solar power facilities.

The company’s product portfolio includes solar tracker hardware, structural components, controls, and software designed to optimize project performance.