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

Key Points

• Hussman Strategic Advisors increased its stake in Nextpower by 40.0% in Q4, owning 29,400 shares worth approximately $2.56 million after acquiring an additional 8,400 shares.
• Institutional investors now hold 67.41% of NXT, with large recent moves including Amundi (2,111,628 shares, ~$161.6M), a new William Blair position (~$108.7M), and sizable increases from Allianz and Electron Capital.
• Analysts have an average rating of "Moderate Buy" with a consensus price target of $117.79, while CEO Daniel S. Shugar sold 59,456 shares (a 7.38% cut), leaving insiders with 0.56% ownership.

Hussman Strategic Advisors Inc. raised its holdings in Nextpower Inc. (NASDAQ:NXT - Free Report) by 40.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 29,400 shares of the company's stock after acquiring 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NXT. William Blair Investment Management LLC acquired a new position in Nextpower in the 3rd quarter valued at approximately $108,739,000. Amundi increased its position in shares of Nextpower by 156.1% during the third quarter. Amundi now owns 2,111,628 shares of the company's stock worth $161,600,000 after buying an additional 1,287,071 shares during the period. Allianz Asset Management GmbH increased its position in shares of Nextpower by 938.0% during the third quarter. Allianz Asset Management GmbH now owns 794,538 shares of the company's stock worth $58,788,000 after buying an additional 717,991 shares during the period. Electron Capital Partners LLC increased its position in shares of Nextpower by 2,017.7% during the third quarter. Electron Capital Partners LLC now owns 566,415 shares of the company's stock worth $41,909,000 after buying an additional 539,668 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Nextpower during the third quarter worth $33,298,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextpower Trading Up 0.7%

NASDAQ:NXT opened at $119.93 on Friday. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 5.70 and a beta of 1.60. The firm has a fifty day simple moving average of $114.44 and a two-hundred day simple moving average of $103.77. Nextpower Inc. has a 12 month low of $40.85 and a 12 month high of $131.72.

Analyst Ratings Changes

NXT has been the subject of several recent analyst reports. Wall Street Zen cut shares of Nextpower from a "buy" rating to a "hold" rating in a research report on Monday, April 27th. Barclays increased their price objective on shares of Nextpower from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Needham & Company LLC increased their price objective on shares of Nextpower from $103.00 to $138.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Jefferies Financial Group increased their price objective on shares of Nextpower from $122.00 to $138.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Finally, Deutsche Bank Aktiengesellschaft set a $129.00 price objective on shares of Nextpower and gave the stock a "buy" rating in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $117.79.

Insider Buying and Selling

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 0.56% of the company's stock.

Nextpower 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.

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