Aberdeen Group plc Has $4.19 Million Stock Holdings in Nextpower Inc. $NXT

Aberdeen Group plc lessened its position in shares of Nextpower Inc. (NASDAQ:NXT) by 27.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,135 shares of the company’s stock after selling 17,802 shares during the quarter. Aberdeen Group plc’s holdings in Nextpower were worth $4,193,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Nextpower by 10.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,859 shares of the company’s stock valued at $1,120,000 after acquiring an additional 1,191 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Nextpower by 10.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,030 shares of the company’s stock valued at $612,000 after acquiring an additional 646 shares during the period. Polianta Ltd acquired a new position in shares of Nextpower during the fourth quarter valued at $1,306,000. Exchange Traded Concepts LLC acquired a new position in shares of Nextpower during the fourth quarter valued at $251,000. Finally, CoreCap Advisors LLC acquired a new position in shares of Nextpower during the fourth quarter valued at $375,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextpower Stock Performance

NASDAQ:NXT opened at $116.41 on Thursday. The company has a market cap of $17.28 billion, a PE ratio of 29.77, a PEG ratio of 2.57 and a beta of 2.02. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $131.72. The stock has a 50-day simple moving average of $115.66 and a 200 day simple moving average of $99.56.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) 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 the consensus estimate of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. On average, research analysts predict that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

NXT has been the topic of several research reports. Robert W. Baird set a $126.00 price target on Nextpower in a research note on Wednesday, January 28th. Wall Street Zen downgraded Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. Bank of America increased their target price on Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Roth Mkm reissued a “buy” rating and issued a $130.00 target price on shares of Nextpower in a research note on Wednesday, January 28th. Finally, Needham & Company LLC increased their target price on Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Nextpower presently has an average rating of “Moderate Buy” and an average target price of $111.84.

Insider Transactions at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction dated Monday, March 9th. The stock was 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 directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 5,000 shares of the stock in a transaction dated Friday, January 30th. The stock was 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 approximately $1,396,398.89. The trade was a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 104,348 shares of company stock valued at $10,876,525. 0.56% of the stock is owned by corporate insiders.

About Nextpower

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.