Lombard Odier Asset Management USA Corp Takes $1.46 Million Position in Nextpower Inc. $NXT

Lombard Odier Asset Management USA Corp acquired a new stake in shares of Nextpower Inc. (NASDAQ:NXT) during the third quarter, according to its most recent filing with the SEC. The fund acquired 19,716 shares of the company’s stock, valued at approximately $1,459,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after buying an additional 71,842 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of Nextpower in the second quarter worth about $275,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Nextpower in the second quarter valued at approximately $423,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Nextpower by 2.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 32,040 shares of the company’s stock valued at $1,742,000 after acquiring an additional 743 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Nextpower by 7.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,923 shares of the company’s stock valued at $2,008,000 after acquiring an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextpower Trading Down 1.3%

NXT opened at $118.09 on Tuesday. The stock has a market capitalization of $17.53 billion, a P/E ratio of 30.20, a PEG ratio of 2.84 and a beta of 2.41. The stock has a 50-day moving average price of $109.47 and a 200-day moving average price of $93.87. Nextpower Inc. has a 12-month low of $36.06 and a 12-month high of $131.59.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that Nextpower Inc. will post 3.29 EPS for the current year.

Wall Street Analysts Forecast Growth

NXT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nextpower in a report on Monday, December 29th. BMO Capital Markets reissued a “market perform” rating and issued a $104.00 price target on shares of Nextpower in a report on Wednesday, January 28th. Mizuho set a $81.00 price target on shares of Nextpower in a research report on Friday, January 23rd. Needham & Company LLC upped their price target on shares of Nextpower from $103.00 to $138.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, KeyCorp reiterated an “overweight” rating on shares of Nextpower in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.01.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the transaction, the chief executive officer directly owned 746,339 shares in the company, valued at $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $118.57, for a total transaction of $592,850.00. Following the transaction, the director directly owned 11,777 shares in the company, valued at $1,396,398.89. This trade represents a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,348 shares of company stock worth $10,876,525 over the last quarter. Company insiders own 0.56% of the company’s stock.

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.