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

Triasima Portfolio Management inc. bought a new stake in shares of Nextpower Inc. (NASDAQ:NXT) 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.