Aberdeen Group plc Sells 11,811 Shares of Nextpower Inc. $NXT

Aberdeen Group plc reduced its stake in Nextpower Inc. (NASDAQ:NXT) by 15.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,937 shares of the company’s stock after selling 11,811 shares during the period. Aberdeen Group plc’s holdings in Nextpower were worth $4,879,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company’s stock valued at $18,436,000 after purchasing an additional 71,842 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Nextpower by 34.6% during the second quarter. Allianz Asset Management GmbH now owns 76,547 shares of the company’s stock valued at $4,162,000 after buying an additional 19,657 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Nextpower in the 2nd quarter worth about $956,000. Cullen Frost Bankers Inc. lifted its holdings in Nextpower by 122.3% in the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after buying an additional 324 shares during the period. Finally, Ethic Inc. boosted its position in Nextpower by 65.1% during the 2nd quarter. Ethic Inc. now owns 8,469 shares of the company’s stock valued at $494,000 after acquiring an additional 3,339 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Nextpower Stock Performance

NASDAQ NXT opened at $119.34 on Friday. Nextpower Inc. has a one year low of $36.06 and a one year high of $131.59. The stock has a 50-day moving average of $102.59 and a 200 day moving average of $87.94. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 3.41 and a beta of 2.35.

Nextpower (NASDAQ:NXT) last posted its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $812.43 million. On average, equities analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NXT shares. UBS Group upped their price objective on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. Needham & Company LLC raised their price target on Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Wells Fargo & Company upped their price target 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a research report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $119.00 price objective on shares of Nextpower in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.32.

Insider Activity at Nextpower

In related news, Director William D. Watkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the sale, the director owned 11,777 shares in the company, valued at approximately $1,396,398.89. This trade represents a 29.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the sale, the chief accounting officer owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This represents a 20.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.56% of the company’s stock.

Nextpower Company 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.