Harbor Capital Advisors Inc. Sells 21,499 Shares of Nextpower Inc. $NXT

Harbor Capital Advisors Inc. cut its position in Nextpower Inc. (NASDAQ:NXT) by 31.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,906 shares of the company’s stock after selling 21,499 shares during the period. Harbor Capital Advisors Inc.’s holdings in Nextpower were worth $4,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Nextpower during the 3rd quarter valued at $36,000. Northwestern Mutual Wealth Management Co. increased its stake in Nextpower by 511.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after buying an additional 414 shares in the last quarter. BOKF NA raised its holdings in Nextpower by 1,135.7% during the third quarter. BOKF NA now owns 519 shares of the company’s stock valued at $38,000 after acquiring an additional 477 shares during the period. Allworth Financial LP raised its holdings in Nextpower by 16.8% during the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after acquiring an additional 141 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position 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 acquiring an additional 724 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextpower Stock Performance

Shares of Nextpower stock opened at $113.08 on Friday. The firm has a market cap of $16.79 billion, a PE ratio of 28.92, a PEG ratio of 2.57 and a beta of 2.02. The stock has a 50 day moving average of $115.65 and a 200 day moving average of $98.48. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.72.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data 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 business had revenue of $909.35 million for 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, equities research analysts forecast that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Daniel S. Shugar sold 59,456 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. 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 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 completion of the sale, the director owned 11,777 shares in the company, valued at $1,396,398.89. This represents a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 104,348 shares of company stock valued at $10,876,525. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Northland Securities set a $111.00 price objective on Nextpower in a research note on Tuesday, January 6th. Wells Fargo & Company lifted their target price on Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. KeyCorp reissued an “overweight” rating on shares of Nextpower in a report on Friday, March 13th. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. Finally, Bank of America increased their price objective on shares of Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Nextpower currently has an average rating of “Moderate Buy” and an average target price of $111.49.

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.