Nextpower Inc. $NXT Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. raised its stake in Nextpower Inc. (NASDAQ:NXT) by 17,652.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,780 shares of the company’s stock after purchasing an additional 121,094 shares during the quarter. Bessemer Group Inc.’s holdings in Nextpower were worth $9,009,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NXT. Cullen Frost Bankers Inc. lifted its holdings in shares of Nextpower by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Nextpower by 1,737.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after acquiring an additional 782 shares during the period. MAI Capital Management lifted its stake 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 acquiring an additional 628 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 acquiring an additional 724 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Nextpower by 42,633.3% during the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after acquiring an additional 1,279 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling at Nextpower

In other Nextpower news, CAO David P. Bennett sold 33,725 shares of Nextpower stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer owned 130,967 shares in the company, valued at approximately $11,535,573.36. The trade was a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William D. Watkins sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $91.85, for a total transaction of $918,500.00. Following the completion of the sale, the director directly owned 16,777 shares in the company, valued at $1,540,967.45. This trade represents a 37.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 96,468 shares of company stock worth $8,839,829. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on NXT. Roth Mkm restated a “buy” rating and issued a $130.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. Wells Fargo & Company lifted their price target on Nextpower from $109.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen lowered Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. Bank of America raised their target price on Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Citigroup upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $114.00 in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.32.

Nextpower Stock Performance

NXT opened at $121.37 on Friday. The company has a market cap of $18.01 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 3.37 and a beta of 2.35. Nextpower Inc. has a one year low of $36.06 and a one year high of $131.59. The business’s fifty day moving average is $96.60 and its two-hundred day moving average is $83.94.

Nextpower (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $909.35 million during the quarter, compared to analysts’ expectations of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. On average, analysts predict that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

About Nextpower

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.