Nextpower Inc. $NXT Shares Acquired by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lifted its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 15.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 157,897 shares of the company’s stock after acquiring an additional 20,547 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Nextpower were worth $18,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NXT. Sequoia Financial Advisors LLC raised its stake in shares of Nextpower by 20.7% during the second quarter. Sequoia Financial Advisors LLC now owns 3,076 shares of the company’s stock valued at $366,000 after purchasing an additional 527 shares during the period. Tidal Investments LLC increased its stake in Nextpower by 20.2% during the 2nd quarter. Tidal Investments LLC now owns 102,483 shares of the company’s stock worth $12,210,000 after buying an additional 17,221 shares during the period. Integrated Wealth Concepts LLC increased its stake in Nextpower by 5.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 6,612 shares of the company’s stock worth $788,000 after buying an additional 329 shares during the period. Waverly Advisors LLC lifted its holdings in Nextpower by 19.9% in the 2nd quarter. Waverly Advisors LLC now owns 2,363 shares of the company’s stock worth $282,000 after buying an additional 392 shares in the last quarter. Finally, Nykredit A S acquired a new position in Nextpower in the 2nd quarter worth $608,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NXT. Wells Fargo & Company raised their target price on Nextpower from $143.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. BNP Paribas Exane increased their price target on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Wolfe Research restated an “outperform” rating and set a $160.00 price objective on shares of Nextpower in a research note on Friday, May 29th. Susquehanna dropped their price objective on Nextpower from $168.00 to $157.00 and set a “positive” rating on the stock in a report on Friday, July 31st. Finally, Truist Financial upped their target price on Nextpower from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nextpower has an average rating of “Moderate Buy” and an average target price of $144.96.

Insider Activity

In other Nextpower news, Director Brandi Thomas sold 7,415 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total transaction of $676,618.75. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julia Blunden sold 3,723 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $88.08, for a total transaction of $327,921.84. Following the completion of the transaction, the director owned 6,434 shares in the company, valued at approximately $566,706.72. The trade was a 36.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,431 shares of company stock valued at $10,039,748 over the last three months. 0.84% of the stock is currently owned by company insiders.

Nextpower Trading Down 3.4%

Nextpower stock traded down $2.83 during midday trading on Tuesday, hitting $79.79. The stock had a trading volume of 2,432,520 shares, compared to its average volume of 2,411,637. The business has a fifty day moving average price of $95.42 and a 200 day moving average price of $111.70. Nextpower Inc. has a 12 month low of $66.70 and a 12 month high of $163.13. The stock has a market cap of $12.11 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.64 and a beta of 1.92.

Nextpower (NASDAQ:NXT) last released its earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, topping 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 company had revenue of $935.17 million for the quarter, compared to the consensus estimate of $935.39 million. On average, equities analysts anticipate that Nextpower Inc. will post 3.76 EPS for the current fiscal year.

Nextpower Profile

Nextracker Inc (NASDAQ: NXT) is a solar technology company that designs, manufactures and supplies intelligent solar tracker systems for utility-scale and distributed-generation photovoltaic projects. Its tracker systems adjust the position of solar panels throughout the day to help optimize energy production.

The company’s product portfolio includes single-axis solar tracking systems, associated hardware and controls, as well as software and digital tools used to monitor and manage solar plant performance.