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

State of Wyoming trimmed its position in Nextpower Inc. (NASDAQ:NXT) by 43.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,912 shares of the company’s stock after selling 6,163 shares during the period. State of Wyoming’s holdings in Nextpower were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of NXT. Natural Investments LLC grew its stake in shares of Nextpower by 0.9% in the third quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after acquiring an additional 155 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Nextpower by 8.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $191,000 after purchasing an additional 198 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Nextpower by 0.6% during the second quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock worth $1,881,000 after purchasing an additional 200 shares during the period. Redwood Investment Management LLC raised its position in shares of Nextpower by 4.1% in the second quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock valued at $281,000 after buying an additional 204 shares in the last quarter. Finally, Securian Asset Management Inc. raised its position in shares of Nextpower by 2.1% in the third quarter. Securian Asset Management Inc. now owns 11,081 shares of the company’s stock valued at $820,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NXT shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $119.00 price objective on shares of Nextpower in a research note on Thursday, January 29th. TD Cowen boosted their price target on Nextpower from $88.00 to $105.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. The Goldman Sachs Group increased their price objective on shares of Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Robert W. Baird set a $126.00 price target on shares of Nextpower in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Nextpower presently has an average rating of “Moderate Buy” and a consensus target price of $108.32.

Insider Activity at Nextpower

In related news, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction on 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 sale, the chief accounting officer owned 130,967 shares in the company, valued at $11,535,573.36. The trade was a 20.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William D. Watkins sold 5,000 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares of the company’s stock, valued at approximately $1,396,398.89. The trade was a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 96,468 shares of company stock valued at $8,839,829 in the last 90 days. 0.56% of the stock is owned by corporate insiders.

Nextpower Trading Up 3.7%

NXT opened at $119.85 on Wednesday. The company’s 50 day moving average is $95.02 and its 200-day moving average is $83.07. The company has a market cap of $17.78 billion, a P/E ratio of 30.65, a PEG ratio of 3.40 and a beta of 2.35. Nextpower Inc. has a 1-year low of $36.06 and a 1-year high of $131.59.

Nextpower (NASDAQ:NXT) last issued its earnings results 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 firm had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. On average, equities analysts forecast that Nextpower Inc. will post 3.29 EPS for the current year.

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.