8,382 Nextpower Inc. $NXT Shares Sold by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP trimmed its holdings in shares of Nextpower Inc. (NASDAQ:NXT) by 51.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,014 shares of the company’s stock after selling 8,382 shares during the period. Fulcrum Asset Management LLP’s holdings in Nextpower were worth $636,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NXT. Tidal Investments LLC grew its holdings in Nextpower by 20.2% during the second quarter. Tidal Investments LLC now owns 102,483 shares of the company’s stock worth $12,210,000 after acquiring an additional 17,221 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Nextpower during the 2nd quarter worth $1,792,000. Perpetual Ltd boosted its position in shares of Nextpower by 16.2% during the 3rd quarter. Perpetual Ltd now owns 194,578 shares of the company’s stock worth $15,163,000 after purchasing an additional 27,098 shares in the last quarter. Reynders McVeigh Capital Management LLC boosted its position in shares of Nextpower by 15.0% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 157,897 shares of the company’s stock worth $18,812,000 after purchasing an additional 20,547 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd grew its stake in shares of Nextpower by 63.5% during the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 127,421 shares of the company’s stock worth $15,361,000 after purchasing an additional 49,505 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextpower Price Performance

NASDAQ NXT opened at $93.60 on Friday. The business has a 50 day moving average price of $85.05 and a 200 day moving average price of $106.63. The company has a market capitalization of $14.09 billion, a P/E ratio of 25.34, a PEG ratio of 2.11 and a beta of 1.93. Nextpower Inc. has a 1-year low of $75.40 and a 1-year high of $163.13.

Nextpower (NASDAQ:NXT) last posted its earnings results on Wednesday, October 28th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Nextpower had a return on equity of 25.33% and a net margin of 15.98%. On average, research analysts expect that Nextpower Inc. will post 3.98 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Julia Blunden sold 3,723 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $88.08, for a total value of $327,921.84. Following the sale, the director directly owned 6,434 shares in the company, valued at $566,706.72. The trade was a 36.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brandi Thomas sold 7,415 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total transaction of $676,618.75. Following the completion of the sale, the director owned 7,914 shares in the company, valued at $722,152.50. This represents a 48.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,330 shares of company stock worth $1,674,948 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NXT has been the subject of a number of research analyst reports. TD Cowen upgraded shares of Nextpower to a “hold” rating in a report on Monday, October 5th. Needham & Company LLC reduced their price objective on shares of Nextpower from $149.00 to $143.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Zacks Research downgraded shares of Nextpower from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Susquehanna decreased their price objective on shares of Nextpower from $150.00 to $145.00 and set a “positive” rating on the stock in a report on Thursday, October 29th. Finally, Glj Research upped their target price on shares of Nextpower from $149.00 to $158.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.93.

Nextpower Company Profile

Nextpower, Inc., formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project. The company’s offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.