13,839 Nextpower Inc. $NXT Shares Acquired by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Nextpower stake by 19.3% in the third quarter, adding 13,839 shares to bring its holdings to 85,383 shares, valued at about $6.65 million.
• Nextpower beat quarterly expectations, reporting earnings of $1.31 per share versus $1.10 expected and revenue of $1.11 billion versus $1.06 billion forecast.
• Analysts rate the stock a “Moderate Buy,” with an average price target of $135.19; meanwhile, company insiders sold 30,506 shares worth about $2.85 million over the last quarter.

Alps Advisors Inc. lifted its stake in Nextpower Inc. (NASDAQ:NXT - Free Report) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 85,383 shares of the company's stock after acquiring an additional 13,839 shares during the quarter. Alps Advisors Inc. owned 0.06% of Nextpower worth $6,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NXT. Heritage Family Offices LLP purchased a new position in Nextpower during the 3rd quarter valued at about $29,000. Kestra Advisory Services LLC increased its stake in Nextpower by 6.8% during the third quarter. Kestra Advisory Services LLC now owns 4,643 shares of the company's stock worth $362,000 after purchasing an additional 295 shares during the period. TFB Advisors LLC increased its stake in Nextpower by 5.0% during the third quarter. TFB Advisors LLC now owns 3,793 shares of the company's stock worth $296,000 after purchasing an additional 182 shares during the period. AIA Group Ltd lifted its position in shares of Nextpower by 91.8% during the third quarter. AIA Group Ltd now owns 10,857 shares of the company's stock worth $846,000 after purchasing an additional 5,197 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Nextpower by 2.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 31,461 shares of the company's stock valued at $2,452,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 67.41% of the company's stock.

Nextpower Trading Down 0.0%

Shares of NXT opened at $104.90 on Monday. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.19 and a beta of 1.93. The firm's fifty day simple moving average is $83.73 and its 200-day simple moving average is $106.73. Nextpower Inc. has a twelve month low of $75.40 and a twelve month high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) last issued 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Nextpower had a net margin of 15.98% and a return on equity of 25.33%. On average, analysts predict that Nextpower Inc. will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nextpower news, Director Julia Blunden sold 3,692 shares of Nextpower stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $84.10, for a total transaction of $310,497.20. Following the completion of the sale, the director directly owned 2,742 shares of the company's stock, valued at $230,602.20. The trade was a 57.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brandi Thomas sold 7,415 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $91.25, for a total value of $676,618.75. Following the transaction, the director directly owned 7,914 shares of the company's stock, valued at approximately $722,152.50. This represents a 48.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,506 shares of company stock valued at $2,845,969 over the last quarter. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group set a $115.00 price objective on shares of Nextpower in a report on Friday, October 16th. Robert W. Baird reduced their price objective on Nextpower from $156.00 to $116.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 22nd. Barclays decreased their target price on Nextpower from $147.00 to $146.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. Royal Bank Of Canada cut their price target on Nextpower from $149.00 to $147.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $137.00 price target on Nextpower in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $135.19.

About Nextpower

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.

Serving customers in markets around the world, the company traces its roots to Nextracker, which was founded in 2013.

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