Polianta Ltd Makes New $1.31 Million Investment in Nextpower Inc. $NXT

Polianta Ltd bought a new stake in Nextpower Inc. (NASDAQ:NXT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $1,306,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Westfield Capital Management Co. LP grew its holdings in Nextpower by 6.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,398,057 shares of the company’s stock valued at $103,442,000 after purchasing an additional 80,493 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Nextpower during the 3rd quarter worth $832,000. Strs Ohio raised its stake in shares of Nextpower by 219.8% during the 3rd quarter. Strs Ohio now owns 110,000 shares of the company’s stock worth $8,139,000 after buying an additional 75,600 shares during the last quarter. New York Life Investment Management LLC purchased a new stake in shares of Nextpower in the 3rd quarter worth about $1,008,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nextpower by 31.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,500 shares of the company’s stock worth $5,364,000 after buying an additional 17,500 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXT has been the subject of several recent research reports. Jefferies Financial Group raised their target price on shares of Nextpower from $122.00 to $138.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Roth Mkm reaffirmed a “buy” rating and issued a $130.00 price target on shares of Nextpower in a report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $119.00 price target on shares of Nextpower in a research report on Thursday, January 29th. TD Cowen raised their price objective on shares of Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Finally, Glj Research restated a “buy” rating and set a $147.33 price objective on shares of Nextpower in a research report on Monday, March 16th. One research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.49.

Insider Transactions at Nextpower

In other news, CEO Daniel S. Shugar sold 59,456 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $105.17, for a total transaction of $6,252,987.52. Following the completion of the transaction, the chief executive officer owned 746,339 shares of the company’s stock, valued at $78,492,472.63. This represents a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William D. Watkins sold 5,000 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $118.57, for a total transaction of $592,850.00. Following the transaction, the director owned 11,777 shares in the company, 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. In the last ninety days, insiders have sold 104,348 shares of company stock valued at $10,876,525. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Down 6.3%

NXT stock opened at $112.51 on Tuesday. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 2.85 and a beta of 2.41. Nextpower Inc. has a 52-week low of $36.06 and a 52-week high of $131.72. The stock’s fifty day simple moving average is $114.44 and its 200-day simple moving average is $97.52.

Nextpower (NASDAQ:NXT) last released its earnings results on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.93 by $0.17. Nextpower had a return on equity of 32.01% and a net margin of 16.43%.The firm had revenue of $909.35 million during the quarter, compared to analyst estimates of $812.43 million. As a group, analysts anticipate that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

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.