Nextpower Inc. $NXT Shares Bought by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH grew its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 92.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 415,655 shares of the company’s stock after acquiring an additional 199,544 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Nextpower were worth $32,392,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Signature Equity Partners LLC boosted its position 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 period. Continuum Advisory LLC purchased a new position in Nextpower in the 2nd quarter worth about $37,000. Root Financial Partners LLC raised its holdings in Nextpower by 30.0% during the 1st quarter. Root Financial Partners LLC now owns 446 shares of the company’s stock worth $54,000 after buying an additional 103 shares during the period. Trust Co. of Vermont acquired a new stake in Nextpower during the 2nd quarter worth about $63,000. Finally, Westfuller Advisors LLC acquired a new stake in Nextpower during the 1st quarter worth about $66,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextpower Stock Up 1.1%

Shares of Nextpower stock opened at $83.45 on Friday. Nextpower Inc. has a 12 month low of $76.71 and a 12 month high of $163.13. The stock has a market cap of $12.66 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 1.99 and a beta of 1.94. The business has a fifty day simple moving average of $86.44 and a 200-day simple moving average of $106.64.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The business had revenue of $935.17 million for the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. Analysts expect that Nextpower Inc. will post 3.80 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Nextpower from $179.00 to $152.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $168.00 target price on shares of Nextpower in a research report on Wednesday, July 1st. Royal Bank Of Canada dropped their target price on shares of Nextpower from $149.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Jefferies Financial Group restated a “buy” rating and issued a $131.00 price target on shares of Nextpower in a research report on Friday, July 31st. Finally, Susquehanna reduced their price target on shares of Nextpower from $157.00 to $150.00 and set a “positive” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.08.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 67,636 shares of Nextpower stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $103.07, for a total transaction of $6,971,242.52. Following the transaction, 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. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brandi Thomas sold 7,415 shares of Nextpower stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total value of $676,618.75. Following the transaction, the director directly owned 7,914 shares in the company, valued at approximately $722,152.50. This trade represents a 48.37% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 100,431 shares of company stock worth $10,039,748. 0.84% of the stock is currently owned by company insiders.

Nextpower Company Profile

Nextracker Inc (NASDAQ:NXT) is a renewable energy technology company that designs and supplies intelligent solar tracking systems for utility-scale and large distributed-generation photovoltaic projects. Its systems help solar panels follow the sun throughout the day, improving energy production and supporting the development of large solar power facilities.

The company’s product portfolio includes solar tracker hardware, structural components, controls, and software designed to optimize project performance.