State of Wyoming Has $585,000 Stock Holdings in Nextpower Inc. $NXT

State of Wyoming lessened its holdings in Nextpower Inc. (NASDAQ:NXT) by 43.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,912 shares of the company’s stock after selling 6,163 shares during the quarter. State of Wyoming’s holdings in Nextpower were worth $585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its stake in Nextpower by 122.3% in the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after buying an additional 324 shares during the period. Hantz Financial Services Inc. raised its holdings in 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 during the period. MAI Capital Management lifted its position in 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 acquiring an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 724 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Nextpower by 42,633.3% during the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after buying an additional 1,279 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insider Activity at Nextpower

In other Nextpower news, Director William D. Watkins sold 5,000 shares of the firm’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 of the company’s stock, valued at $1,396,398.89. This trade represents a 29.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the transaction, the chief executive officer directly owned 624,882 shares of the company’s stock, valued at approximately $57,039,228.96. This trade represents a 7.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 96,468 shares of company stock worth $8,839,829. Company insiders own 0.56% of the company’s stock.

Nextpower Stock Performance

Shares of NXT stock opened at $119.85 on Wednesday. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $131.59. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.40 and a beta of 2.35. The firm’s 50-day moving average is $95.02 and its 200-day moving average is $83.07.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NXT. Needham & Company LLC upped their price target on Nextpower from $103.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Bank of America increased their target price on shares of Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Citigroup raised shares of Nextpower from a “neutral” rating to a “buy” rating and raised their target price for the company from $66.00 to $114.00 in a research report on Tuesday, October 21st. Wells Fargo & Company boosted their price target on shares of Nextpower from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.32.

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.