Nextpower Inc. $NXT Shares Newly Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. acquired a new stake in shares of Nextpower Inc. (NASDAQ:NXT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,309 shares of the company’s stock, valued at approximately $959,000.

Several other hedge funds also recently bought and sold shares of NXT. Signature Equity Partners LLC lifted its stake in Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company’s stock worth $31,000 after purchasing an additional 113 shares in the last quarter. Sigma Planning Corp boosted its holdings in Nextpower by 4.9% in the 3rd quarter. Sigma Planning Corp now owns 3,779 shares of the company’s stock valued at $294,000 after purchasing an additional 175 shares during the period. TFB Advisors LLC grew its position in shares of Nextpower by 5.0% during the 3rd quarter. TFB Advisors LLC now owns 3,793 shares of the company’s stock valued at $296,000 after purchasing an additional 182 shares in the last quarter. North Dakota State Investment Board increased its holdings in shares of Nextpower by 4.7% in the third quarter. North Dakota State Investment Board now owns 4,565 shares of the company’s stock worth $356,000 after purchasing an additional 203 shares during the period. Finally, Glenmede Trust Co. NA increased its holdings in shares of Nextpower by 2.9% in the first quarter. Glenmede Trust Co. NA now owns 8,532 shares of the company’s stock worth $1,029,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextpower Stock Down 6.9%

NASDAQ NXT opened at $93.60 on Friday. The stock’s 50-day simple moving average is $85.05 and its two-hundred day simple moving average is $106.63. Nextpower Inc. has a twelve month low of $75.40 and a twelve month high of $163.13. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.11 and a beta of 1.93.

Nextpower (NASDAQ:NXT) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Nextpower had a return on equity of 25.33% and a net margin of 15.98%. On average, equities analysts expect that Nextpower Inc. will post 3.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Nextpower

In other Nextpower news, Director Brandi Thomas sold 7,415 shares of Nextpower stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $91.25, for a total transaction of $676,618.75. Following the transaction, the director directly owned 7,914 shares of the company’s stock, valued at approximately $722,152.50. This trade represents a 48.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Charles Boynton sold 4,500 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $79.98, for a total transaction of $359,910.00. Following the completion of the sale, the chief financial officer directly owned 354,000 shares of the company’s stock, valued at $28,312,920. This trade represents a 1.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 19,330 shares of company stock worth $1,674,948 over the last ninety days. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NXT. Northland Securities set a $138.00 target price on Nextpower in a research report on Thursday, October 29th. Needham & Company LLC dropped their price target on Nextpower from $149.00 to $143.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nextpower in a report on Tuesday, October 27th. Barclays decreased their price objective on shares of Nextpower from $147.00 to $146.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Finally, BMO Capital Markets lowered their target price on shares of Nextpower from $132.00 to $114.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.93.

Nextpower Company Profile

Nextpower, Inc., formerly known as Nextracker, designs and supplies solar-tracking systems and related technology for utility-scale solar power plants. Its equipment helps solar panels follow the sun across the day, increasing the amount of energy generated by a project. The company’s offerings include its NX Horizon tracker platform and TrueCapture software, which uses data and controls to adjust tracker positioning to site conditions. Nextpower also provides engineering and project support services to solar developers, contractors and plant operators.