Polianta Ltd Takes Position in Nextpower Inc. $NXT

Polianta Ltd bought a new stake in Nextpower Inc. (NASDAQ:NXT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,000 shares of the company’s stock, valued at approximately $1,306,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Nextpower by 16.8% in the third quarter. Allworth Financial LP now owns 979 shares of the company’s stock valued at $72,000 after acquiring an additional 141 shares during the period. Natural Investments LLC grew its position in shares of Nextpower by 0.9% during the third quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock worth $1,239,000 after acquiring an additional 155 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Nextpower by 15.9% in the 3rd quarter. Fifth Third Bancorp now owns 1,264 shares of the company’s stock valued at $94,000 after acquiring an additional 173 shares during the period. Farther Finance Advisors LLC raised its position in Nextpower by 8.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock valued at $191,000 after purchasing an additional 198 shares during the last quarter. Finally, Redwood Investment Management LLC raised its position in Nextpower by 4.1% in the 2nd quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock valued at $281,000 after purchasing an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NXT shares. Robert W. Baird set a $126.00 price objective on shares of Nextpower in a research report on Wednesday, January 28th. Bank of America increased their target price on shares of Nextpower from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. KeyCorp reissued an “overweight” rating on shares of Nextpower in a report on Friday, March 13th. Northland Securities set a $111.00 price target on Nextpower in a research report on Tuesday, January 6th. Finally, Needham & Company LLC upped their price objective on Nextpower from $103.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $111.49.

Insider Buying and Selling at Nextpower

In other Nextpower news, Director William D. Watkins sold 5,000 shares of the stock in a transaction on 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 in the company, valued at approximately $1,396,398.89. This represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 of the company’s stock, valued at approximately $78,492,472.63. This trade represents a 7.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 104,348 shares of company stock valued at $10,876,525 in the last quarter. 0.56% of the stock is currently owned by company insiders.

Nextpower Trading Down 6.3%

Shares of NXT opened at $112.51 on Tuesday. The stock’s 50 day moving average is $114.44 and its two-hundred day moving average is $97.52. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $131.72. The firm has a market capitalization of $16.71 billion, a PE ratio of 28.77, a P/E/G ratio of 2.85 and a beta of 2.41.

Nextpower (NASDAQ:NXT) last issued its earnings results on Tuesday, January 27th. The company reported $1.10 earnings per share (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 business had revenue of $909.35 million during the quarter, compared to the consensus estimate of $812.43 million. On average, sell-side analysts predict that Nextpower Inc. will post 3.29 EPS 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.