Private Client Services LLC Has $975,000 Position in Nextpower Inc. $NXT

Private Client Services LLC lessened its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 65.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,180 shares of the company’s stock after selling 15,217 shares during the period. Private Client Services LLC’s holdings in Nextpower were worth $975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jupiter Asset Management Ltd. increased its stake in Nextpower by 0.3% during the 4th quarter. Jupiter Asset Management Ltd. now owns 26,706 shares of the company’s stock worth $2,326,000 after purchasing an additional 86 shares in the last quarter. Root Financial Partners LLC lifted its stake in Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after buying an additional 103 shares in the last quarter. Signature Equity Partners LLC lifted its stake in Nextpower by 76.4% in the first quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after buying an additional 113 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Nextpower by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 5,963 shares of the company’s stock valued at $719,000 after buying an additional 119 shares during the period. Finally, Signaturefd LLC increased its position in shares of Nextpower by 4.1% during the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company’s stock worth $280,000 after acquiring an additional 126 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Stock Performance

NXT opened at $90.67 on Tuesday. Nextpower Inc. has a 52-week low of $52.61 and a 52-week high of $163.13. The firm has a market capitalization of $13.62 billion, a PE ratio of 23.49, a PEG ratio of 1.79 and a beta of 1.95. The business’s 50-day simple moving average is $116.70 and its 200 day simple moving average is $116.33.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. Nextpower had a return on equity of 26.29% and a net margin of 16.36%.The firm had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. On average, research analysts forecast that Nextpower Inc. will post 3.73 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on NXT. Needham & Company LLC restated a “buy” rating and set a $149.00 price objective on shares of Nextpower in a report on Friday, May 29th. Wells Fargo & Company upped their target price on shares of Nextpower from $143.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. KeyCorp increased their target price on Nextpower from $152.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. BMO Capital Markets raised Nextpower from a “hold” rating to an “outperform” rating and set a $132.00 price target on the stock in a research note on Friday. Finally, UBS Group restated a “buy” rating and issued a $160.00 price target on shares of Nextpower in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Nextpower presently has an average rating of “Moderate Buy” and a consensus target price of $147.38.

Insider Buying and Selling

In other news, COO Nicholas Marco Miller sold 24,511 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52. Following the sale, the chief operating officer directly owned 221,533 shares of the company’s stock, valued at approximately $28,205,581.56. This represents a 9.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $151.79, for a total transaction of $683,055.00. Following the completion of the sale, the chief financial officer owned 358,500 shares of the company’s stock, valued at $54,416,715. This trade represents a 1.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 168,574 shares of company stock worth $22,559,770. Corporate insiders own 0.84% of the company’s stock.

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.