Strs Ohio Has $8.14 Million Holdings in Nextpower Inc. $NXT

Strs Ohio raised its position in shares of Nextpower Inc. (NASDAQ:NXT) by 219.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,000 shares of the company’s stock after buying an additional 75,600 shares during the quarter. Strs Ohio’s holdings in Nextpower were worth $8,139,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. raised its holdings in shares of Nextpower by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after acquiring an additional 324 shares during the period. Hantz Financial Services Inc. grew its position 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 purchasing an additional 782 shares in the last quarter. MAI Capital Management raised its stake in Nextpower by 309.4% during the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after purchasing an additional 628 shares during the period. 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 lifted its holdings in shares of Nextpower by 42,633.3% in the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock valued at $95,000 after purchasing an additional 1,279 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $105.00 on Monday. The business has a 50 day simple moving average of $91.27 and a 200 day simple moving average of $80.42. Nextpower Inc. has a 52 week low of $36.06 and a 52 week high of $112.74. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 3.29 and a beta of 2.38.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. The firm had revenue of $905.27 million for the quarter, compared to analyst estimates of $839.53 million. Nextpower had a net margin of 17.08% and a return on equity of 35.05%. On average, analysts predict that Nextpower Inc. will post 3.29 EPS for the current year.

Insider Activity

In other Nextpower news, CAO David P. Bennett sold 33,725 shares of the stock in a transaction on Thursday, December 11th. The shares were 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. This represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the completion of the sale, the director directly owned 16,777 shares of the company’s stock, valued at $1,540,967.45. This represents a 37.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 91,468 shares of company stock worth $8,246,979. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NXT has been the topic of a number of research analyst reports. Robert W. Baird set a $100.00 price target on Nextpower in a report on Friday, October 31st. UBS Group lifted their target price on Nextpower to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft set a $99.00 target price on Nextpower and gave the company a “buy” rating in a report on Friday, October 24th. The Goldman Sachs Group raised their price target on shares of Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, TD Cowen reiterated a “hold” rating on shares of Nextpower in a research note on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Nextpower presently has an average rating of “Moderate Buy” and a consensus price target of $99.10.

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.