Triasima Portfolio Management inc. Takes $3 Million Position in Nextpower Inc. $NXT

Key Points

• Triasima Portfolio Management bought a new stake of 34,396 shares of Nextpower (NXT) in Q4, valued at approximately $2,996,000.
• CEO Daniel S. Shugar sold 59,456 shares at an average price of $105.17 for about $6,252,988, trimming his position by 7.38%; insiders now own 0.56% of the stock.
• Wall Street sentiment is largely positive—Nextpower has an average analyst rating of "Moderate Buy" with an average price target of $117.79; the company has a market cap of about $17.81 billion and a 12‑month range of $40.85–$131.72.

Triasima Portfolio Management inc. bought a new stake in shares of Nextpower Inc. (NASDAQ:NXT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,396 shares of the company's stock, valued at approximately $2,996,000.

A number of other institutional investors have also recently modified their holdings of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Nextpower by 19.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company's stock valued at $18,436,000 after acquiring an additional 71,842 shares during the period. M&T Bank Corp bought a new stake in shares of Nextpower during the 2nd quarter valued at $223,000. EverSource Wealth Advisors LLC lifted its position in shares of Nextpower by 179.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock valued at $61,000 after acquiring an additional 724 shares during the period. Cerity Partners LLC lifted its position in shares of Nextpower by 154.0% during the 2nd quarter. Cerity Partners LLC now owns 18,539 shares of the company's stock valued at $1,008,000 after acquiring an additional 11,239 shares during the period. Finally, California Public Employees Retirement System lifted its position in shares of Nextpower by 36.5% during the 2nd quarter. California Public Employees Retirement System now owns 222,960 shares of the company's stock valued at $12,122,000 after acquiring an additional 59,573 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Insider Transactions at Nextpower

In other Nextpower news, CEO Daniel S. Shugar sold 59,456 shares of the company's stock in a transaction dated Monday, March 9th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

Nextpower Price Performance

Shares of NXT stock opened at $119.93 on Monday. Nextpower Inc. has a twelve month low of $40.85 and a twelve month high of $131.72. The company has a market cap of $17.81 billion, a P/E ratio of 30.67, a P/E/G ratio of 5.70 and a beta of 1.60. The business has a fifty day simple moving average of $114.44 and a 200 day simple moving average of $103.89.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $129.00 target price on Nextpower and gave the company a "buy" rating in a research report on Thursday, April 9th. Northland Securities set a $111.00 target price on Nextpower in a research report on Tuesday, January 6th. Susquehanna upped their target price on Nextpower from $133.00 to $136.00 and gave the company a "positive" rating in a research report on Thursday, April 9th. Wells Fargo & Company upped their price objective on Nextpower from $109.00 to $127.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 28th. Finally, Mizuho set a $81.00 price objective on Nextpower in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Nextpower has an average rating of "Moderate Buy" and an average price target of $117.79.

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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