Formuepleje A S Makes New Investment in Nextpower Inc. $NXT

Formuepleje A S purchased a new stake in Nextpower Inc. (NASDAQ:NXT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,043 shares of the company’s stock, valued at approximately $783,000.

Several other large investors have also made changes to their positions in the business. Signature Equity Partners LLC raised its holdings in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after acquiring an additional 113 shares in the last quarter. Continuum Advisory LLC bought a new stake in shares of Nextpower during the second quarter valued at approximately $37,000. University of Texas Texas AM Investment Management Co. raised its stake in shares of Nextpower by 60.3% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 625 shares of the company’s stock valued at $54,000 after purchasing an additional 235 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Nextpower by 30.0% in the first quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock valued at $54,000 after purchasing an additional 103 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in Nextpower in the second quarter worth $63,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NXT. Roth Capital reiterated a “buy” rating and set a $175.00 price target on shares of Nextpower in a research note on Tuesday, July 28th. Truist Financial increased their price objective on shares of Nextpower from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays reduced their price objective on shares of Nextpower from $147.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday. Robert W. Baird decreased their target price on shares of Nextpower from $156.00 to $116.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 22nd. Finally, UBS Group reissued a “buy” rating and issued a $160.00 target price on shares of Nextpower in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Nextpower has an average rating of “Moderate Buy” and a consensus target price of $142.08.

Nextpower Stock Performance

Nextpower stock traded up $0.64 during trading hours on Thursday, hitting $83.20. 1,357,250 shares of the stock were exchanged, compared to its average volume of 2,378,758. The stock has a market capitalization of $12.62 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.15 and a beta of 1.94. The business’s 50-day moving average is $86.74 and its two-hundred day moving average is $106.89. Nextpower Inc. has a 12 month low of $76.71 and a 12 month high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. The business had revenue of $935.17 million during the quarter, compared to analyst estimates of $935.39 million. On average, equities analysts predict that Nextpower Inc. will post 3.77 earnings per share for the current fiscal year.

Insider Activity

In other Nextpower news, Director Brandi Thomas sold 7,415 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total value of $676,618.75. Following the completion of the sale, the director 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 accessible through the SEC website. Also, President Howard Wenger sold 11,176 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total transaction of $1,171,021.28. Following the completion of the sale, the president owned 419,868 shares of the company’s stock, valued at approximately $43,993,769.04. This represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 100,431 shares of company stock valued at $10,039,748. 0.84% of the stock is currently owned by company insiders.

Nextpower Profile

Nextracker Inc (NASDAQ:NXT) is a renewable energy technology company that designs and supplies intelligent solar tracking systems for utility-scale and large distributed-generation photovoltaic projects. Its systems help solar panels follow the sun throughout the day, improving energy production and supporting the development of large solar power facilities.

The company’s product portfolio includes solar tracker hardware, structural components, controls, and software designed to optimize project performance.