Fieldview Capital Management LLC Lowers Holdings in Nextpower Inc. $NXT

Fieldview Capital Management LLC reduced its stake in shares of Nextpower Inc. (NASDAQ:NXT) by 73.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,851 shares of the company’s stock after selling 55,782 shares during the quarter. Fieldview Capital Management LLC’s holdings in Nextpower were worth $1,469,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NXT. Swiss National Bank grew its stake in shares of Nextpower by 4.3% during the 3rd quarter. Swiss National Bank now owns 286,520 shares of the company’s stock worth $21,200,000 after purchasing an additional 11,900 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Nextpower by 20.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 191,631 shares of the company’s stock valued at $14,179,000 after purchasing an additional 32,910 shares during the period. PFG Advisors lifted its stake in shares of Nextpower by 18.7% in the 3rd quarter. PFG Advisors now owns 8,483 shares of the company’s stock valued at $628,000 after purchasing an additional 1,338 shares during the period. Diversify Advisory Services LLC purchased a new stake in Nextpower during the third quarter worth $152,000. Finally, Parallel Advisors LLC boosted its holdings in Nextpower by 10.0% during the third quarter. Parallel Advisors LLC now owns 7,166 shares of the company’s stock worth $530,000 after buying an additional 651 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextpower

In other news, CAO David P. Bennett sold 33,725 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $88.08, for a total value of $2,970,498.00. Following the completion of the sale, the chief accounting officer directly owned 130,967 shares in the company, valued at $11,535,573.36. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Watkins sold 5,000 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $118.57, for a total transaction of $592,850.00. Following the completion of the sale, the director owned 11,777 shares of the company’s stock, valued at $1,396,398.89. This trade represents a 29.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 138,073 shares of company stock worth $13,847,023. Corporate insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NXT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $119.00 price objective on shares of Nextpower in a report on Thursday, January 29th. UBS Group increased their target price on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Northland Securities set a $111.00 target price on Nextpower in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. Finally, Royal Bank Of Canada upped their price target on Nextpower from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Nextpower presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.32.

Nextpower Price Performance

Shares of Nextpower stock opened at $108.13 on Tuesday. The stock has a market capitalization of $16.06 billion, a P/E ratio of 27.65, a PEG ratio of 2.98 and a beta of 2.41. The business has a 50 day simple moving average of $106.66 and a two-hundred day simple moving average of $92.15. Nextpower Inc. has a 12 month low of $36.06 and a 12 month high of $131.59.

Nextpower (NASDAQ:NXT) last issued its quarterly 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 firm had revenue of $909.35 million for the quarter, compared to analyst estimates of $812.43 million. As a group, research analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

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.