244,105 Shares in Nextpower Inc. $NXT Purchased by Wealth High Governance Capital Ltda

Key Points

• Wealth High Governance Capital Ltda acquired a new 244,105-share stake in Nextpower (NASDAQ:NXT) in Q4 worth about $21.26 million, making it the fund’s third-largest position (~4.0% of its holdings) and representing roughly 0.16% of Nextpower’s shares.
• Nextpower beat expectations in the latest quarter with EPS of $1.10 vs. $0.93 and revenue of $909.35M vs. $812.43M, the stock trades near $114 with a market cap of about $17B, and analysts maintain a consensus rating of Moderate Buy with an average target near $117.79.
• Insiders sold 104,348 shares in the last quarter (including CEO sales), leaving insiders with 0.56% ownership while institutional investors hold 67.41% of the company’s stock.

Wealth High Governance Capital Ltda acquired a new stake in Nextpower Inc. (NASDAQ:NXT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 244,105 shares of the company's stock, valued at approximately $21,264,000. Nextpower accounts for about 4.0% of Wealth High Governance Capital Ltda's holdings, making the stock its 3rd largest position. Wealth High Governance Capital Ltda owned approximately 0.16% of Nextpower at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NXT. Signaturefd LLC boosted its holdings in Nextpower by 4.1% in the fourth quarter. Signaturefd LLC now owns 3,216 shares of the company's stock valued at $280,000 after purchasing an additional 126 shares in the last quarter. 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. Fifth Third Bancorp boosted its holdings in shares of Nextpower by 15.9% in the third 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. Baillie Gifford & Co. boosted its holdings in shares of Nextpower by 76.5% in the fourth quarter. Baillie Gifford & Co. now owns 420 shares of the company's stock valued at $37,000 after acquiring an additional 182 shares during the period. Finally, CWM LLC boosted its holdings in shares of Nextpower by 3.2% in the fourth quarter. CWM LLC now owns 5,978 shares of the company's stock valued at $521,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 67.41% of the company's stock.

Nextpower Stock Performance

NASDAQ:NXT opened at $114.27 on Thursday. The stock has a fifty day moving average price of $114.38 and a two-hundred day moving average price of $103.54. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 5.83 and a beta of 2.02. Nextpower Inc. has a 1 year low of $37.16 and a 1 year high of $131.72.

Nextpower (NASDAQ:NXT - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts predict that Nextpower Inc. will post 3.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reissued a "market perform" rating and issued a $104.00 price objective on shares of Nextpower in a report on Wednesday, January 28th. Jefferies Financial Group increased their price objective on Nextpower from $122.00 to $138.00 and gave the company a "buy" rating in a report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft set a $129.00 price target on Nextpower and gave the stock a "buy" rating in a research note on Thursday, April 9th. Robert W. Baird upped their price target on Nextpower from $126.00 to $133.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Nextpower currently has a consensus rating of "Moderate Buy" and a consensus target price of $117.79.

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 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 sale, the chief executive officer directly owned 746,339 shares in the company, valued at $78,492,472.63. This trade represents a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.

About Nextpower

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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