HighTower Advisors LLC Has $1.92 Million Stock Position in Nextpower Inc. $NXT

HighTower Advisors LLC lessened its holdings in Nextpower Inc. (NASDAQ:NXT) by 22.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,006 shares of the company’s stock after selling 7,692 shares during the period. HighTower Advisors LLC’s holdings in Nextpower were worth $1,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Nextpower by 19.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock worth $18,436,000 after buying an additional 71,842 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Nextpower by 101.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,579 shares of the company’s stock valued at $303,000 after acquiring an additional 2,811 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in Nextpower in the 2nd quarter worth approximately $1,269,000. Hantz Financial Services Inc. boosted its position 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 purchasing an additional 782 shares during the period. Finally, Strs Ohio grew its holdings in Nextpower by 112.3% during the second quarter. Strs Ohio now owns 34,400 shares of the company’s stock valued at $1,870,000 after purchasing an additional 18,200 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Stock Performance

Shares of NXT opened at $105.10 on Friday. The company has a 50-day simple moving average of $105.17 and a 200-day simple moving average of $90.20. Nextpower Inc. has a 52 week low of $36.06 and a 52 week high of $131.59. The firm has a market capitalization of $15.61 billion, a P/E ratio of 26.88, a P/E/G ratio of 3.09 and a beta of 2.35.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on NXT shares. Royal Bank Of Canada boosted their price objective on shares of Nextpower from $93.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. KeyCorp raised shares of Nextpower from a “sector weight” rating to an “overweight” rating and set a $142.00 target price for the company in a research report on Wednesday, January 28th. Bank of America raised their price target on Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. TD Cowen lifted their price objective on Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Finally, Mizuho set a $81.00 target price on Nextpower in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.32.

Insider Buying and Selling

In other news, Director William D. Watkins sold 5,000 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares in the company, valued at approximately $1,396,398.89. This represents a 29.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO David P. Bennett sold 33,725 shares of the firm’s 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 transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at $11,535,573.36. The trade was a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.56% of the company’s stock.

Nextpower Company 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.