Nextpower Inc. $NXT Shares Sold by Andrew Hill Investment Advisors Inc.

Key Points

• Andrew Hill Investment Advisors cut its Nextpower stake by 60.1% in the third quarter, selling 30,313 shares and retaining 20,109 shares valued at approximately $1.57 million. Institutional investors and hedge funds collectively own 67.41% of the company.
• Nextpower reported quarterly EPS of $1.20, exceeding the $1.05 analyst consensus, while revenue of $935.17 million was roughly in line with expectations. The stock opened at $78.89, near its 52-week low of $75.40.
• Wall Street maintains a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $139.77, despite recent insider selling and one downgrade to “Hold.”

Andrew Hill Investment Advisors Inc. lessened its stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) by 60.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,109 shares of the company's stock after selling 30,313 shares during the quarter. Nextpower comprises about 1.3% of Andrew Hill Investment Advisors Inc.'s portfolio, making the stock its 26th largest holding. Andrew Hill Investment Advisors Inc.'s holdings in Nextpower were worth $1,567,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Signature Equity Partners LLC grew its stake in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company's stock valued at $31,000 after buying an additional 113 shares during the last quarter. Continuum Advisory LLC bought a new position in Nextpower in the 2nd quarter valued at about $37,000. Root Financial Partners LLC lifted its position in Nextpower by 30.0% during the first quarter. Root Financial Partners LLC now owns 446 shares of the company's stock worth $54,000 after acquiring an additional 103 shares during the last quarter. Trust Co. of Vermont acquired a new stake in Nextpower during the second quarter worth approximately $63,000. Finally, Westfuller Advisors LLC acquired a new stake in Nextpower during the first quarter worth approximately $66,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextpower Stock Performance

NASDAQ:NXT opened at $78.89 on Friday. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.87 and a beta of 1.94. Nextpower Inc. has a fifty-two week low of $75.40 and a fifty-two week high of $163.13. The stock has a fifty day moving average price of $83.56 and a 200-day moving average price of $105.17.

Nextpower (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.15. Nextpower had a return on equity of 26.29% and a net margin of 16.36%. The business had revenue of $935.17 million during the quarter, compared to the consensus estimate of $935.39 million. Research analysts predict that Nextpower Inc. will post 3.80 EPS for the current fiscal year.

Insider Buying and Selling at Nextpower

In related news, Director Julia Blunden sold 3,692 shares of Nextpower stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $84.10, for a total value of $310,497.20. Following the transaction, the director directly owned 2,742 shares of the company's stock, valued at $230,602.20. This trade represents a 57.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Howard Wenger sold 11,176 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $104.78, for a total transaction of $1,171,021.28. Following the transaction, the president owned 419,868 shares of the company's stock, valued at approximately $43,993,769.04. This represents a 2.59% decrease in their ownership of the stock. 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. Insiders have sold a total of 100,431 shares of company stock worth $10,039,748 in the last three months. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NXT. Glj Research reissued a "buy" rating and set a $149.00 price target on shares of Nextpower in a report on Wednesday, August 5th. Barclays decreased their price objective on Nextpower from $147.00 to $146.00 and set an "overweight" rating on the stock in a report on Tuesday, October 13th. Guggenheim upgraded Nextpower from a "neutral" rating to a "buy" rating and set a $125.00 price objective on the stock in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft set a $137.00 target price on shares of Nextpower in a research report on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Nextpower from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Nextpower presently has an average rating of "Moderate Buy" and a consensus price target of $139.77.

Nextpower Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company's product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.

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