AE Wealth Management LLC Makes New $310,000 Investment in Nextpower Inc. $NXT

AE Wealth Management LLC purchased a new stake in Nextpower Inc. (NASDAQ:NXT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,189 shares of the company’s stock, valued at approximately $310,000.

A number of other institutional investors have also added to or reduced their stakes in NXT. Natural Investments LLC lifted its stake in shares of Nextpower by 0.9% in the third quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock worth $1,239,000 after acquiring an additional 155 shares during the period. Farther Finance Advisors LLC raised its holdings in Nextpower by 8.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $191,000 after purchasing an additional 198 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of Nextpower by 0.6% in the 2nd quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock worth $1,881,000 after purchasing an additional 200 shares during the period. Redwood Investment Management LLC boosted its stake in shares of Nextpower by 4.1% in the 2nd quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock valued at $281,000 after purchasing an additional 204 shares during the last quarter. Finally, Securian Asset Management Inc. increased its position in shares of Nextpower by 2.1% during the third quarter. Securian Asset Management Inc. now owns 11,081 shares of the company’s stock worth $820,000 after buying an additional 223 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In related news, Director William D. Watkins sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $91.85, for a total value of $918,500.00. Following the sale, the director owned 16,777 shares in the company, valued at $1,540,967.45. This represents a 37.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO David P. Bennett sold 33,725 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value of $2,970,498.00. Following the transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This trade represents a 20.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 96,468 shares of company stock valued at $8,839,829. 0.56% of the stock is currently owned by company insiders.

Nextpower Price Performance

Shares of NASDAQ NXT opened at $121.37 on Friday. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59. The stock has a market capitalization of $18.01 billion, a P/E ratio of 31.04, a P/E/G ratio of 3.37 and a beta of 2.35. The company’s 50-day moving average is $96.60 and its 200 day moving average is $83.94.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The business had revenue of $909.35 million during the quarter, compared to analyst estimates of $812.43 million. Research analysts anticipate that Nextpower Inc. will post 3.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NXT. Robert W. Baird set a $126.00 target price on shares of Nextpower in a report on Wednesday, January 28th. Bank of America boosted their price objective on Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised their target price on Nextpower from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. BMO Capital Markets reissued a “market perform” rating and issued a $104.00 price target on shares of Nextpower in a research note on Wednesday, January 28th. Finally, Susquehanna raised their price objective on shares of Nextpower from $76.00 to $100.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.32.

Nextpower 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.