Lisanti Capital Growth LLC Makes New $4.12 Million Investment in Nextpower Inc. $NXT

Lisanti Capital Growth LLC purchased a new stake in Nextpower Inc. (NASDAQ:NXT) in the 3rd quarter, HoldingsChannel reports. The fund purchased 55,620 shares of the company’s stock, valued at approximately $4,115,000.

A number of other hedge funds also recently made changes to their positions in NXT. Natural Investments LLC boosted its holdings in Nextpower by 0.9% in the third quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock valued at $1,239,000 after acquiring an additional 155 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Nextpower by 8.3% in the third quarter. Farther Finance Advisors LLC now owns 2,585 shares of the company’s stock worth $191,000 after purchasing an additional 198 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Nextpower by 0.6% during the 2nd quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock valued at $1,881,000 after acquiring an additional 200 shares during the period. Redwood Investment Management LLC grew its holdings in Nextpower by 4.1% in the second quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock worth $281,000 after purchasing an additional 204 shares during the period. Finally, Securian Asset Management Inc. grew its holdings in Nextpower by 2.1% in the third quarter. Securian Asset Management Inc. now owns 11,081 shares of the company’s stock worth $820,000 after purchasing an additional 223 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nextpower

In other news, CEO Daniel S. Shugar sold 47,743 shares of Nextpower stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the completion of the sale, the chief executive officer owned 624,882 shares in the company, valued at approximately $57,039,228.96. This trade represents a 7.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David P. Bennett sold 33,725 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $88.08, for a total transaction of $2,970,498.00. Following the completion of the transaction, the chief accounting officer directly owned 130,967 shares of the company’s stock, valued at approximately $11,535,573.36. This represents a 20.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 91,468 shares of company stock valued at $8,246,979 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Nextpower Stock Down 3.3%

NXT stock opened at $117.09 on Friday. The stock has a 50-day simple moving average of $93.85 and a two-hundred day simple moving average of $81.99. Nextpower Inc. has a twelve month low of $36.06 and a twelve month high of $131.59. The firm has a market capitalization of $17.37 billion, a PE ratio of 29.95, a PEG ratio of 3.77 and a beta of 2.38.

Nextpower (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, January 27th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. Nextpower had a net margin of 16.43% and a return on equity of 32.01%. The company had revenue of $909.35 million during the quarter, compared to analyst estimates of $812.43 million. On average, equities research analysts anticipate that Nextpower Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Nextpower to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. Susquehanna boosted their price target on shares of Nextpower from $76.00 to $100.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Mizuho set a $81.00 price objective on shares of Nextpower in a research note on Friday, January 23rd. TD Cowen boosted their target price on Nextpower from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird set a $126.00 target price on Nextpower in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Nextpower currently has a consensus rating of “Moderate Buy” and an average target price of $108.32.

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.