Clear Creek Financial Management LLC Takes $2.69 Million Position in Nextpower Inc. $NXT

Key Points

• Clear Creek Financial Management LLC initiated a new Q4 position in Nextpower, buying 30,836 shares valued at about $2.69 million, as institutional investors now own roughly 67.41% of the stock.
• Wall Street is broadly bullish: the consensus rating is a "Moderate Buy" with an average price target of $113.84 and several analysts assigning buy ratings and targets up to $130.
• Nextpower beat Q4 expectations (EPS $1.10 vs. $0.93; revenue $909.35M vs. $812.43M), but insiders have been net sellers recently—104,348 shares sold in the last 90 days, including 59,456 shares by the CEO.

Clear Creek Financial Management LLC bought a new position in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 30,836 shares of the company's stock, valued at approximately $2,686,000.

A number of other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new position in shares of Nextpower during the 4th quarter worth approximately $498,000. Greenleaf Trust bought a new stake in Nextpower in the 4th quarter valued at $210,000. Azzad Asset Management Inc. ADV bought a new stake in Nextpower in the 4th quarter valued at $988,000. Trust Investment Advisors boosted its stake in Nextpower by 10.7% in the 4th quarter. Trust Investment Advisors now owns 10,719 shares of the company's stock valued at $934,000 after purchasing an additional 1,036 shares during the period. Finally, Signaturefd LLC boosted its stake in Nextpower by 4.1% in the 4th quarter. Signaturefd LLC now owns 3,216 shares of the company's stock valued at $280,000 after purchasing an additional 126 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NXT shares. Weiss Ratings restated a "buy (b-)" rating on shares of Nextpower in a research note on Friday, March 27th. Roth Mkm restated a "buy" rating and issued a $130.00 price target on shares of Nextpower in a research note on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft set a $129.00 target price on Nextpower and gave the company a "buy" rating in a research report on Thursday. Northland Securities set a $111.00 target price on Nextpower in a research report on Tuesday, January 6th. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $104.00 target price on shares of Nextpower in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $113.84.

Nextpower Stock Performance

Nextpower stock opened at $117.97 on Friday. Nextpower Inc. has a 52 week low of $36.78 and a 52 week high of $131.72. The stock has a market capitalization of $17.52 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 2.61 and a beta of 2.02. The stock has a fifty day moving average of $115.53 and a 200-day moving average of $99.97.

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

Insider Transactions at Nextpower

In other Nextpower news, Director William D. Watkins sold 5,000 shares of the company's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total value of $592,850.00. Following the completion of the transaction, the director owned 11,777 shares of the company's stock, valued at $1,396,398.89. This represents a 29.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel S. Shugar sold 59,456 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the sale, the chief executive officer directly owned 746,339 shares of the company's stock, valued at approximately $78,492,472.63. The trade was a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 104,348 shares of company stock valued at $10,876,525. Insiders own 0.56% of the company's stock.

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.

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