Nextpower Inc. $NXT Shares Newly Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new position in shares of Nextpower Inc. (NASDAQ:NXT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,854 shares of the company’s stock, valued at approximately $846,000.

Several other hedge funds have also modified their holdings of the company. Fundsmith LLP acquired a new stake in shares of Nextpower during the 2nd quarter valued at about $340,275,000. Robeco Schweiz AG raised its holdings in Nextpower by 98.8% in the 3rd quarter. Robeco Schweiz AG now owns 1,721,087 shares of the company’s stock worth $134,124,000 after purchasing an additional 855,460 shares during the period. Bank of America Corp DE raised its holdings in Nextpower by 34.6% in the 1st quarter. Bank of America Corp DE now owns 1,568,235 shares of the company’s stock worth $189,051,000 after purchasing an additional 402,770 shares during the period. Janus Henderson Group PLC boosted its position in Nextpower by 134.3% during the first quarter. Janus Henderson Group PLC now owns 1,362,466 shares of the company’s stock worth $164,488,000 after purchasing an additional 780,958 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Nextpower by 96.6% during the first quarter. Assetmark Inc. now owns 840,966 shares of the company’s stock worth $101,378,000 after purchasing an additional 413,142 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nextpower

In related news, Director Brandi Thomas sold 7,415 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total value of $676,618.75. Following the completion of the transaction, the director directly owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. This represents a 48.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Blunden sold 3,692 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $84.10, for a total value of $310,497.20. Following the completion of the transaction, the director directly owned 2,742 shares of the company’s stock, valued at approximately $230,602.20. This represents a 57.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,330 shares of company stock valued at $1,674,948 over the last ninety days. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Roth Capital set a $140.00 price objective on Nextpower in a report on Thursday, October 29th. JPMorgan Chase & Co. reduced their target price on Nextpower from $136.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. Needham & Company LLC decreased their target price on Nextpower from $149.00 to $143.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Zacks Research cut shares of Nextpower from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Mizuho dropped their price target on shares of Nextpower from $111.00 to $101.00 and set a “neutral” rating on the stock in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Nextpower has an average rating of “Moderate Buy” and an average target price of $135.37.

Nextpower Trading Down 0.0%

NASDAQ:NXT opened at $104.89 on Tuesday. Nextpower Inc. has a 12 month low of $75.40 and a 12 month high of $163.13. The stock has a 50 day moving average of $84.12 and a two-hundred day moving average of $106.75. The firm has a market cap of $15.91 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.23 and a beta of 1.93.

Nextpower (NASDAQ:NXT) last announced its earnings results on Wednesday, October 28th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.21. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Nextpower had a return on equity of 25.33% and a net margin of 15.98%. On average, research analysts forecast that Nextpower Inc. will post 4.01 earnings per share for the current year.

Nextpower Profile

Nextpower, Inc, formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project.

The company’s offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.

Serving customers in markets around the world, the company traces its roots to Nextracker, which was founded in 2013.