Evexia Wealth LLC Invests $613,000 in Nextpower Inc. $NXT

Evexia Wealth LLC bought a new stake in Nextpower Inc. (NASDAQ:NXT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,477 shares of the company’s stock, valued at approximately $613,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Nextpower by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 14,167,845 shares of the company’s stock valued at $1,048,279,000 after buying an additional 283,981 shares during the last quarter. State Street Corp boosted its stake in shares of Nextpower by 0.6% in the 3rd quarter. State Street Corp now owns 5,391,696 shares of the company’s stock worth $398,932,000 after buying an additional 31,689 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in shares of Nextpower by 11.0% in the second quarter. Encompass Capital Advisors LLC now owns 2,919,777 shares of the company’s stock valued at $158,748,000 after acquiring an additional 289,663 shares in the last quarter. Invesco Ltd. increased its position in shares of Nextpower by 9.9% during the third quarter. Invesco Ltd. now owns 2,725,449 shares of the company’s stock valued at $201,656,000 after acquiring an additional 245,412 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Nextpower by 2.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,357,523 shares of the company’s stock valued at $174,459,000 after acquiring an additional 67,362 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on NXT shares. Wells Fargo & Company boosted their price objective on Nextpower from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. TD Cowen raised their target price on Nextpower from $88.00 to $105.00 and gave the company a “hold” rating in a research report on Wednesday, January 28th. UBS Group boosted their price target on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. KeyCorp restated an “overweight” rating on shares of Nextpower in a research report on Friday, March 13th. Finally, Roth Mkm restated a “buy” rating and set a $130.00 price objective on shares of Nextpower in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $111.49.

Insider Activity

In other news, Director William D. Watkins sold 5,000 shares of the business’s stock in a transaction that occurred 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 owned 11,777 shares of the company’s stock, valued at $1,396,398.89. The trade was a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel S. Shugar sold 59,456 shares of the company’s 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 sale, the chief executive officer owned 746,339 shares in the company, valued at $78,492,472.63. The trade was a 7.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 104,348 shares of company stock worth $10,876,525. Insiders own 0.56% of the company’s stock.

Nextpower Price Performance

Shares of NXT opened at $113.08 on Friday. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.72. The stock’s fifty day moving average price is $115.49 and its two-hundred day moving average price is $98.16. The firm has a market cap of $16.79 billion, a PE ratio of 28.92, a PEG ratio of 2.73 and a beta of 2.02.

Nextpower (NASDAQ:NXT) last posted its quarterly 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. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The company had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. Sell-side analysts anticipate that Nextpower Inc. will post 3.29 earnings per share 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.