5,248 Shares in Nextpower Inc. $NXT Acquired by AlphaQuest LLC

AlphaQuest LLC acquired a new stake in Nextpower Inc. (NASDAQ:NXT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,248 shares of the company’s stock, valued at approximately $388,000.

A number of other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its position in shares of Nextpower by 122.3% in the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after buying an additional 324 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Nextpower by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after acquiring an additional 782 shares in the last quarter. MAI Capital Management raised its position in Nextpower by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after acquiring an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after acquiring an additional 724 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Nextpower by 42,633.3% in the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock valued at $95,000 after purchasing an additional 1,279 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of recent research reports. Susquehanna raised their price objective on shares of Nextpower from $76.00 to $100.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. Northland Securities set a $111.00 price objective on Nextpower in a research report on Tuesday, January 6th. Barclays set a $115.00 price objective on Nextpower in a research note on Thursday, January 29th. Needham & Company LLC boosted their target price on shares of Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $130.00 price target on shares of Nextpower in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Nextpower has a consensus rating of “Moderate Buy” and a consensus target price of $108.32.

Insiders Place Their Bets

In other Nextpower news, CAO David P. Bennett sold 33,725 shares of Nextpower stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value of $2,970,498.00. Following the transaction, the chief accounting officer owned 130,967 shares in the company, valued at $11,535,573.36. This trade represents a 20.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel S. Shugar sold 47,743 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total value of $4,357,981.04. Following the sale, the chief executive officer owned 624,882 shares of the company’s stock, valued at approximately $57,039,228.96. The trade was a 7.10% decrease in their ownership of the stock. 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 over the last quarter. Company insiders own 0.56% of the company’s stock.

Nextpower Trading Up 6.1%

Shares of NASDAQ:NXT opened at $121.37 on Friday. The firm has a market cap of $18.01 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 3.57 and a beta of 2.35. The stock’s 50-day moving average price is $96.60 and its two-hundred day moving average price is $84.09. 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 net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. As a group, research analysts forecast that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

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.