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% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its stake in Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after purchasing an additional 324 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Nextpower by 1,737.8% during the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after buying an additional 782 shares in the last quarter. MAI Capital Management lifted its stake in shares of Nextpower by 309.4% in the 2nd 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 last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after acquiring an additional 724 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings 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 valued at $95,000 after acquiring an additional 1,279 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NXT shares. Robert W. Baird set a $126.00 target price on Nextpower in a report on Wednesday, January 28th. The Goldman Sachs Group raised their price objective on shares of Nextpower from $89.00 to $125.00 and gave the company a “buy” rating in a report on Monday, October 27th. Roth Mkm reissued a “buy” rating and set a $130.00 target price on shares of Nextpower in a report on Wednesday, January 28th. Northland Securities set a $111.00 price target on shares of Nextpower in a report on Tuesday, January 6th. Finally, Barclays set a $115.00 price objective on Nextpower in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.32.

Nextpower Trading Up 2.8%

Shares of NXT opened at $119.34 on Friday. The firm’s fifty day simple moving average is $102.59 and its two-hundred day simple moving average is $87.94. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59. The stock has a market capitalization of $17.72 billion, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 3.41 and a beta of 2.35.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The company had revenue of $909.35 million for the quarter, compared to the consensus estimate of $812.43 million. As a group, research analysts predict that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO David P. Bennett sold 33,725 shares of Nextpower stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William D. Watkins sold 5,000 shares of Nextpower stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $118.57, for a total value of $592,850.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.56% of the stock is owned by insiders.

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.