Militia Capital Partners LP Raises Holdings in Nextpower Inc. $NXT

Militia Capital Partners LP boosted its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 90.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,600 shares of the company’s stock after acquiring an additional 5,500 shares during the quarter. Militia Capital Partners LP’s holdings in Nextpower were worth $858,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Nextpower during the 3rd quarter valued at approximately $36,000. BOKF NA boosted its holdings in Nextpower by 1,135.7% during the third quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after buying an additional 477 shares in the last quarter. MAI Capital Management grew its position in Nextpower by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after buying an additional 628 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock valued at $61,000 after buying an additional 724 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Nextpower by 15.9% in the third quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after buying an additional 173 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In other news, CEO Daniel S. Shugar sold 59,456 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Watkins sold 5,000 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total transaction of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares in the company, valued at approximately $1,396,398.89. This represents a 29.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 104,348 shares of company stock worth $10,876,525. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NXT has been the topic of several recent analyst reports. Barclays set a $115.00 target price on shares of Nextpower in a research note on Thursday, January 29th. Wall Street Zen lowered Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. Wells Fargo & Company increased their price target on Nextpower from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nextpower in a report on Monday, December 29th. Finally, UBS Group boosted their price objective on Nextpower from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.01.

Nextpower Trading Down 1.3%

NASDAQ:NXT opened at $118.09 on Tuesday. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59. The stock has a 50 day moving average of $109.47 and a two-hundred day moving average of $93.87. The firm has a market cap of $17.53 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 2.84 and a beta of 2.41.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results 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. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The firm had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. On average, research analysts forecast that Nextpower Inc. will post 3.29 earnings per share for the current 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.