Tidal Investments LLC Increases Holdings in Nextpower Inc. $NXT

Tidal Investments LLC lifted its holdings in Nextpower Inc. (NASDAQ:NXT) by 20.2% in the second quarter, Holdings Channel reports. The fund owned 102,483 shares of the company’s stock after purchasing an additional 17,221 shares during the quarter. Tidal Investments LLC’s holdings in Nextpower were worth $12,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NXT. Smartleaf Asset Management LLC increased its stake in Nextpower by 107.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 299 shares of the company’s stock worth $26,000 after acquiring an additional 155 shares during the last quarter. Signature Equity Partners LLC lifted its stake in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company’s stock worth $33,000 after purchasing an additional 317 shares during the period. Continuum Advisory LLC purchased a new position in shares of Nextpower in the 2nd quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Nextpower by 511.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock worth $37,000 after purchasing an additional 414 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on NXT shares. Freedom Capital upgraded Nextpower from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings lowered shares of Nextpower from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. BMO Capital Markets upgraded shares of Nextpower from a “hold” rating to an “outperform” rating and set a $132.00 price objective on the stock in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $137.00 target price on shares of Nextpower in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $168.00 target price on shares of Nextpower in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.96.

Insider Buying and Selling at Nextpower

In related news, President Howard Wenger sold 11,176 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total value of $1,171,021.28. Following the transaction, the president owned 419,868 shares of the company’s stock, valued at $43,993,769.04. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 67,636 shares of Nextpower stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $103.07, for a total transaction of $6,971,242.52. Following the sale, the chief executive officer owned 871,131 shares of the company’s stock, valued at $89,787,472.17. The trade was a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 100,431 shares of company stock valued at $10,039,748. 0.84% of the stock is owned by company insiders.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $82.89 on Friday. Nextpower Inc. has a fifty-two week low of $65.75 and a fifty-two week high of $163.13. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 1.61 and a beta of 1.92. The business’s 50 day moving average price is $96.07 and its 200-day moving average price is $112.00.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $935.17 million during the quarter, compared to analysts’ expectations of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. Sell-side analysts predict that Nextpower Inc. will post 3.76 earnings per share for the current year.

Nextpower Profile

Nextracker Inc (NASDAQ: NXT) is a solar technology company that designs, manufactures and supplies intelligent solar tracker systems for utility-scale and distributed-generation photovoltaic projects. Its tracker systems adjust the position of solar panels throughout the day to help optimize energy production.

The company’s product portfolio includes single-axis solar tracking systems, associated hardware and controls, as well as software and digital tools used to monitor and manage solar plant performance.