Versor Investments LP Sells 10,955 Shares of Nextpower Inc. $NXT

Versor Investments LP lessened its position in Nextpower Inc. (NASDAQ:NXT) by 42.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,760 shares of the company’s stock after selling 10,955 shares during the period. Versor Investments LP’s holdings in Nextpower were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NXT. Cullen Frost Bankers Inc. raised its holdings in Nextpower by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock valued at $32,000 after buying an additional 324 shares during the last quarter. Hantz Financial Services Inc. increased its position in Nextpower by 1,737.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after acquiring an additional 782 shares during the period. MAI Capital Management raised its stake in shares of Nextpower by 309.4% during the second quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after acquiring an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Nextpower by 179.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company’s stock worth $61,000 after purchasing an additional 724 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Nextpower by 42,633.3% during the third quarter. Global Retirement Partners LLC now owns 1,282 shares of the company’s stock worth $95,000 after purchasing an additional 1,279 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on NXT. Wall Street Zen lowered Nextpower from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 25th. Mizuho set a $81.00 target price on Nextpower in a report on Friday, January 23rd. Northland Securities set a $111.00 target price on shares of Nextpower in a research report on Tuesday, January 6th. Citigroup upgraded shares of Nextpower from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $114.00 in a research report on Tuesday, October 21st. Finally, UBS Group increased their price objective on shares of Nextpower from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.32.

Insiders Place Their Bets

In other news, CAO David P. Bennett sold 33,725 shares of the firm’s 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 of the company’s stock, valued at approximately $11,535,573.36. This trade represents a 20.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Daniel S. Shugar sold 47,743 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $91.28, for a total transaction of $4,357,981.04. Following the transaction, the chief executive officer owned 624,882 shares in the company, valued at $57,039,228.96. This represents a 7.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 96,468 shares of company stock worth $8,839,829. 0.56% of the stock is currently owned by corporate insiders.

Nextpower Price Performance

NASDAQ NXT opened at $121.87 on Tuesday. Nextpower Inc. has a 1 year low of $36.06 and a 1 year high of $131.59. The stock has a market capitalization of $18.10 billion, a PE ratio of 31.17, a PEG ratio of 3.57 and a beta of 2.34. The business’s 50-day moving average is $97.29 and its 200 day moving average is $84.65.

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

Nextpower Profile

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.