Erste Asset Management GmbH Has $56.36 Million Stock Holdings in Nextpower Inc. $NXT

Erste Asset Management GmbH boosted its position in Nextpower Inc. (NASDAQ:NXT) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 740,396 shares of the company’s stock after buying an additional 7,192 shares during the quarter. Erste Asset Management GmbH owned approximately 0.50% of Nextpower worth $56,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Xponance Inc. grew its position in Nextpower by 3.4% in the 3rd quarter. Xponance Inc. now owns 22,071 shares of the company’s stock worth $1,633,000 after purchasing an additional 721 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Nextpower by 27.2% in the third quarter. DNB Asset Management AS now owns 61,371 shares of the company’s stock valued at $4,541,000 after buying an additional 13,136 shares during the period. Choreo LLC acquired a new stake in Nextpower during the third quarter worth about $227,000. Westfield Capital Management Co. LP grew its position in Nextpower by 6.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock worth $103,442,000 after buying an additional 80,493 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Nextpower by 45.7% during the third quarter. Intech Investment Management LLC now owns 124,840 shares of the company’s stock valued at $9,237,000 after acquiring an additional 39,182 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Activity

In other news, CAO David P. Bennett sold 33,725 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Watkins sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares in the company, valued at $1,396,398.89. The trade was a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of research reports. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $119.00 target price on shares of Nextpower in a research report on Thursday, January 29th. UBS Group lifted their price target on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Needham & Company LLC increased their price objective 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, TD Cowen raised their price objective on shares of Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $108.32.

Nextpower Price Performance

Nextpower stock opened at $106.86 on Friday. The firm has a market capitalization of $15.87 billion, a P/E ratio of 27.33, a P/E/G ratio of 3.43 and a beta of 2.35. The stock has a fifty day moving average price of $104.84 and a two-hundred day moving average price of $89.59. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $131.59.

Nextpower (NASDAQ:NXT) last posted its earnings results 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. The business had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. On average, equities research analysts predict that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

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.