Alps Advisors Inc. Sells 4,147 Shares of Nextpower Inc. $NXT

Alps Advisors Inc. trimmed its position in shares of Nextpower Inc. (NASDAQ:NXT) by 4.5% during the 3rd quarter, Holdings Channel reports. The fund owned 87,964 shares of the company’s stock after selling 4,147 shares during the period. Alps Advisors Inc.’s holdings in Nextpower were worth $6,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its holdings in shares of Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after acquiring an additional 782 shares during the period. MAI Capital Management raised its stake in shares of Nextpower by 309.4% in the second quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after acquiring an additional 628 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Nextpower by 179.7% in the 2nd 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 boosted its stake in shares of Nextpower by 42,633.3% during the 3rd quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after purchasing an additional 1,279 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director William D. Watkins sold 5,000 shares of the company’s stock in a transaction 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 directly owned 11,777 shares of the company’s stock, valued at $1,396,398.89. This represents a 29.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David P. Bennett sold 33,725 shares of the company’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 completion of the sale, the chief accounting officer directly owned 130,967 shares in the company, valued at approximately $11,535,573.36. The trade was a 20.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 96,468 shares of company stock valued at $8,839,829 over the last quarter. 0.56% of the stock is currently owned by company insiders.

Nextpower Stock Up 6.1%

NASDAQ:NXT opened at $121.37 on Monday. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 3.57 and a beta of 2.34. Nextpower Inc. has a 52 week low of $36.06 and a 52 week high of $131.59. The firm has a 50 day moving average of $96.60 and a 200 day moving average of $84.24.

Nextpower (NASDAQ:NXT) last released its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $909.35 million during the quarter, compared to analysts’ expectations of $812.43 million. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. As a group, analysts expect that Nextpower Inc. will post 3.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Nextpower from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Wells Fargo & Company lifted their target price on Nextpower from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. The Goldman Sachs Group upped their price target on shares of Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, October 27th. KeyCorp raised shares of Nextpower from a “sector weight” rating to an “overweight” rating and set a $142.00 target price on the stock in a research report on Wednesday, January 28th. Finally, Northland Securities set a $111.00 price target on Nextpower in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nextpower has a consensus rating of “Moderate Buy” and an average target price of $108.32.

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.