SBI Securities Co. Ltd. Sells 5,765 Shares of Nextpower Inc. $NXT

SBI Securities Co. Ltd. trimmed its position in Nextpower Inc. (NASDAQ:NXT) by 91.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516 shares of the company’s stock after selling 5,765 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Nextpower were worth $38,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of 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 in the last quarter. Hantz Financial Services Inc. boosted its stake in Nextpower by 1,737.8% in the second quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after buying an additional 782 shares in the last quarter. MAI Capital Management grew its position in Nextpower by 309.4% in the second 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 raised its stake in Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after acquiring an additional 724 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Nextpower by 42,633.3% in the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after acquiring an additional 1,279 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In other news, CAO David P. Bennett sold 33,725 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the sale, the chief accounting officer directly owned 130,967 shares in the company, valued at $11,535,573.36. This represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction on Monday, November 17th. The stock was sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the transaction, the chief executive officer directly owned 624,882 shares of the company’s stock, valued at $57,039,228.96. This represents a 7.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 96,468 shares of company stock valued at $8,839,829. 0.56% of the stock is currently owned by company insiders.

Nextpower Stock Down 4.7%

NASDAQ NXT opened at $114.24 on Friday. The company has a market capitalization of $16.96 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 3.53 and a beta of 2.35. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $131.59. The stock has a fifty day simple moving average of $99.05 and a 200 day simple moving average of $85.47.

Nextpower (NASDAQ:NXT) last announced its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. The firm had revenue of $909.35 million for 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%. Research analysts expect that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXT. Royal Bank Of Canada lifted their price target on shares of Nextpower from $93.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Mizuho set a $81.00 target price on shares of Nextpower in a research note on Friday, January 23rd. Northland Securities set a $111.00 price target on shares of Nextpower in a report on Tuesday, January 6th. TD Cowen increased their price target on Nextpower from $88.00 to $105.00 and gave the company a “hold” rating in a research note on Wednesday, January 28th. Finally, The Goldman Sachs Group boosted their price objective on Nextpower from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.32.

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.