Nextpower Inc. $NXT Shares Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB increased its holdings in Nextpower Inc. (NASDAQ:NXT) by 26.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,098 shares of the company’s stock after purchasing an additional 10,500 shares during the period. E. Ohman J or Asset Management AB’s holdings in Nextpower were worth $5,969,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Nextpower by 4.6% during the fourth quarter. Legal & General Group Plc now owns 414,304 shares of the company’s stock worth $36,090,000 after purchasing an additional 18,380 shares during the period. Assetmark Inc. grew its stake in shares of Nextpower by 342,159.2% during the 4th quarter. Assetmark Inc. now owns 427,824 shares of the company’s stock valued at $37,268,000 after buying an additional 427,699 shares during the period. Andrew Hill Investment Advisors Inc. increased its holdings in shares of Nextpower by 31.2% during the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 70,025 shares of the company’s stock worth $6,100,000 after buying an additional 16,666 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Nextpower by 215.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 24,006 shares of the company’s stock worth $2,091,000 after buying an additional 16,388 shares during the last quarter. Finally, Vestcor Inc raised its position in shares of Nextpower by 480.8% in the 4th quarter. Vestcor Inc now owns 21,947 shares of the company’s stock worth $1,912,000 after buying an additional 18,168 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Daniel S. Shugar sold 26,077 shares of Nextpower stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $134.72, for a total transaction of $3,513,093.44. Following the sale, the chief executive officer owned 931,419 shares of the company’s stock, valued at $125,480,767.68. The trade was a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Nicholas Marco Miller sold 24,511 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $127.32, for a total transaction of $3,120,740.52. Following the completion of the transaction, the chief operating officer owned 221,533 shares in the company, valued at $28,205,581.56. This represents a 9.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 170,863 shares of company stock valued at $22,782,306. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. BNP Paribas Exane lifted their target price on Nextpower from $177.00 to $182.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Guggenheim upgraded Nextpower from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Wednesday, July 15th. Roth Capital restated a “buy” rating and issued a $175.00 price objective on shares of Nextpower in a report on Tuesday, July 28th. Robert W. Baird lifted their price objective on Nextpower from $133.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Nextpower from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.12.

Nextpower Stock Performance

Nextpower stock opened at $102.91 on Tuesday. The stock’s 50 day moving average price is $112.65 and its 200 day moving average price is $116.48. The firm has a market capitalization of $15.61 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 2.07 and a beta of 1.95. Nextpower Inc. has a one year low of $52.61 and a one year high of $163.13.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. The company had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Nextpower had a net margin of 16.36% and a return on equity of 26.29%. On average, analysts forecast that Nextpower Inc. will post 3.73 earnings per share for the current fiscal year.

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.