Union Bancaire Privee UBP SA Buys 19,493 Shares of Nextpower Inc. $NXT

Union Bancaire Privee UBP SA increased its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 147.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,671 shares of the company’s stock after buying an additional 19,493 shares during the period. Union Bancaire Privee UBP SA’s holdings in Nextpower were worth $2,677,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Foster Dykema Cabot & Partners LLC bought a new position in shares of Nextpower during the 3rd quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Nextpower by 511.1% during 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 last quarter. BOKF NA raised its holdings in shares of Nextpower by 1,135.7% in the 3rd quarter. BOKF NA now owns 519 shares of the company’s stock worth $38,000 after purchasing an additional 477 shares during the period. MAI Capital Management raised its holdings in shares of Nextpower by 309.4% in the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock worth $45,000 after purchasing an additional 628 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 724 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextpower Stock Performance

Shares of NASDAQ NXT opened at $114.39 on Friday. Nextpower Inc. has a fifty-two week low of $36.06 and a fifty-two week high of $131.59. The stock has a market cap of $16.98 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.82 and a beta of 2.41. The stock has a fifty day moving average of $111.66 and a 200-day moving average of $94.90.

Nextpower (NASDAQ:NXT) last issued 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. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The business had revenue of $909.35 million for the quarter, compared to analysts’ expectations of $812.43 million. On average, sell-side analysts predict that Nextpower Inc. will post 3.29 EPS for the current year.

Insider Transactions at Nextpower

In other news, Director William D. Watkins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $118.57, for a total value 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 trade represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel S. Shugar sold 59,456 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 746,339 shares of the company’s stock, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 104,348 shares of company stock worth $10,876,525. Insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

NXT has been the subject of several research reports. Barclays set a $115.00 price objective on Nextpower in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nextpower in a research report on Monday, December 29th. Needham & Company LLC increased their price target on Nextpower from $103.00 to $138.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Jefferies Financial Group lifted their price objective on Nextpower from $122.00 to $138.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wall Street Zen cut Nextpower from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 25th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Nextpower has an average rating of “Moderate Buy” and an average price target of $111.49.

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.