HighTower Advisors LLC Sells 7,692 Shares of Nextpower Inc. $NXT

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

A number of other large investors have also recently bought and sold shares of the stock. Natural Investments LLC lifted its holdings in shares of Nextpower by 0.9% during 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 during the period. Farther Finance Advisors LLC increased 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 position in shares of Nextpower by 0.6% during the 2nd 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 in the last quarter. Redwood Investment Management LLC lifted its holdings in Nextpower by 4.1% during the 2nd quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock valued at $281,000 after purchasing an additional 204 shares during the last quarter. Finally, Securian Asset Management Inc. boosted its position in 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. 67.41% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the transaction, the director owned 11,777 shares of the company’s stock, valued at $1,396,398.89. This represents a 29.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO David P. Bennett sold 33,725 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $88.08, for a total value of $2,970,498.00. Following the completion of the transaction, the chief accounting officer owned 130,967 shares in the company, valued at $11,535,573.36. This represents 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 Stock Down 1.6%

Shares of NXT opened at $105.10 on Friday. The stock’s fifty day simple moving average is $105.17 and its 200-day simple moving average is $90.20. The firm has a market capitalization of $15.61 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 3.09 and a beta of 2.35. Nextpower Inc. has a 12-month low of $36.06 and a 12-month high of $131.59.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $812.43 million. Analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NXT. Wells Fargo & Company upped their price objective on shares of Nextpower from $109.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. KeyCorp upgraded Nextpower from a “sector weight” rating to an “overweight” rating and set a $142.00 price target on the stock in a research report on Wednesday, January 28th. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 25th. Roth Mkm reissued a “buy” rating and issued a $130.00 price objective on shares of Nextpower in a research note on Wednesday, January 28th. Finally, UBS Group increased their target price on Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Nextpower has a consensus rating of “Moderate Buy” and a consensus price target of $108.32.

About Nextpower

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.