Moody Aldrich Partners LLC Purchases Shares of 43,037 Nextpower Inc. $NXT

Key Points

• Moody Aldrich Partners opened a new position in Nextpower, buying 43,037 shares in Q4 valued at about $3.75 million, as part of broader institutional ownership that now stands at 67.41%.
• Insider selling accelerated: CEO Daniel S. Shugar sold 59,456 shares for roughly $6.25 million and insiders have sold 104,348 shares (~$10.88 million) over the last three months, leaving corporate insiders with just 0.56% ownership.
• Analyst view and recent results: Nextpower has a consensus rating of "Moderate Buy" with an average price target of $117.79, and recently beat Q4 estimates with EPS $1.10 (vs. $0.93 expected) and revenue $909.35M (vs. $812.43M expected).

Moody Aldrich Partners LLC purchased a new position in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,037 shares of the company's stock, valued at approximately $3,749,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. M&T Bank Corp lifted its position in Nextpower by 52.2% during the fourth quarter. M&T Bank Corp now owns 6,511 shares of the company's stock worth $567,000 after buying an additional 2,232 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Nextpower by 26.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 20,199 shares of the company's stock valued at $1,760,000 after acquiring an additional 4,272 shares during the last quarter. Abacus FCF Advisors LLC purchased a new position in shares of Nextpower during the 4th quarter worth about $12,610,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Nextpower by 7.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 71,755 shares of the company's stock worth $6,250,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Rakuten Securities Inc. grew its holdings in 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 purchasing an additional 393 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Daniel S. Shugar sold 59,456 shares of the company'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 transaction, the chief executive officer directly owned 746,339 shares in the company, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William D. Watkins sold 5,000 shares of the firm's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $118.57, for a total transaction of $592,850.00. Following the sale, the director directly owned 11,777 shares of the company's stock, valued at approximately $1,396,398.89. The trade was a 29.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 104,348 shares of company stock worth $10,876,525. Corporate insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

NXT has been the topic of a number of recent analyst reports. Glj Research reaffirmed a "buy" rating and set a $147.33 price target on shares of Nextpower in a research note on Monday, March 16th. Mizuho set a $81.00 price objective on Nextpower in a report on Friday, January 23rd. The Goldman Sachs Group set a $140.00 price target on Nextpower and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Jefferies Financial Group raised their price objective on Nextpower from $122.00 to $138.00 and gave the stock a "buy" rating in a report on Tuesday, March 17th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Nextpower in a research note on Friday, March 13th. One investment 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 company. According to MarketBeat, Nextpower has a consensus rating of "Moderate Buy" and an average price target of $117.79.

Nextpower Stock Performance

Shares of NASDAQ:NXT opened at $116.54 on Wednesday. The business's 50-day simple moving average is $114.58 and its 200 day simple moving average is $103.47. The company has a market cap of $17.30 billion, a P/E ratio of 29.81, a PEG ratio of 5.83 and a beta of 2.02. Nextpower Inc. has a one year low of $37.16 and a one year high of $131.72.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The firm had revenue of $909.35 million during the quarter, compared to analysts' expectations of $812.43 million. Nextpower had a return on equity of 32.01% and a net margin of 16.43%. Analysts predict that Nextpower Inc. will post 3.72 earnings per share for the current 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.

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