Nextpower Inc. $NXT Holdings Boosted by Algert Global LLC

Algert Global LLC grew its stake in Nextpower Inc. (NASDAQ:NXT) by 30.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 551,625 shares of the company’s stock after purchasing an additional 128,744 shares during the quarter. Nextpower makes up 0.7% of Algert Global LLC’s holdings, making the stock its biggest position. Algert Global LLC owned about 0.37% of Nextpower worth $40,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Nextpower during the third quarter valued at approximately $36,000. BOKF NA boosted its stake in shares of Nextpower by 1,135.7% in the third quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after acquiring an additional 477 shares during the last quarter. MAI Capital Management increased its position in shares of Nextpower by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Nextpower by 179.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after purchasing an additional 724 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Nextpower by 15.9% in the 3rd quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Activity

In related news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the completion of the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $118.57, for a total transaction of $592,850.00. Following the completion of the sale, the director owned 11,777 shares of the company’s stock, valued at $1,396,398.89. This trade represents a 29.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 104,348 shares of company stock valued at $10,876,525. 0.56% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NXT shares. TD Cowen lifted their target price on shares of Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Bank of America increased their target price on shares of Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. UBS Group raised 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. Jefferies Financial Group lowered shares of Nextpower from a “strong-buy” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, Mizuho set a $81.00 price objective on shares of Nextpower in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.01.

Nextpower Stock Up 3.2%

NASDAQ:NXT opened at $119.64 on Friday. Nextpower Inc. has a 52 week low of $36.06 and a 52 week high of $131.59. The company has a market capitalization of $17.76 billion, a P/E ratio of 30.60, a P/E/G ratio of 2.84 and a beta of 2.41. The stock’s fifty day moving average is $108.90 and its two-hundred day moving average is $93.33.

Nextpower (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $909.35 million during the quarter, compared to analysts’ expectations of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. Sell-side analysts anticipate 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.