Hussman Strategic Advisors Inc. Has $2.56 Million Stock Holdings in Nextpower Inc. $NXT

Hussman Strategic Advisors Inc. boosted its stake in Nextpower Inc. (NASDAQ:NXT) by 40.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,400 shares of the company’s stock after purchasing an additional 8,400 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Nextpower were worth $2,561,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. grew its holdings in Nextpower by 268.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company’s stock worth $28,000 after purchasing an additional 223 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company’s stock valued at $37,000 after buying an additional 182 shares in the last quarter. Foster Dykema Cabot & Partners LLC bought a new position in shares of Nextpower in the third quarter valued at $36,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nextpower by 511.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 495 shares of the company’s stock valued at $37,000 after buying an additional 414 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of Nextpower by 324.8% in the fourth quarter. Rakuten Securities Inc. now owns 514 shares of the company’s stock valued at $45,000 after buying an additional 393 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Price Performance

NXT opened at $119.93 on Friday. The company’s 50-day moving average is $114.44 and its 200 day moving average is $103.77. Nextpower Inc. has a fifty-two week low of $40.85 and a fifty-two week high of $131.72. The firm has a market capitalization of $17.81 billion, a P/E ratio of 30.67, a PEG ratio of 5.70 and a beta of 1.60.

Insider Buying and Selling at Nextpower

In related news, CEO Daniel S. Shugar sold 59,456 shares of the firm’s stock in a transaction dated 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 $78,492,472.63. This trade represents a 7.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NXT. Glj Research reaffirmed a “buy” rating and issued a $147.33 price objective on shares of Nextpower in a research note on Monday, March 16th. Bank of America raised their price objective on shares of Nextpower from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. KeyCorp reaffirmed an “overweight” rating on shares of Nextpower in a research note on Friday, March 13th. Needham & Company LLC raised their price objective on shares of Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Barclays raised their price objective on shares of Nextpower from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $117.79.

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.