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% during the 3rd quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natural Investments LLC raised its holdings in Nextpower by 0.9% in the 3rd quarter. Natural Investments LLC now owns 16,750 shares of the company’s stock worth $1,239,000 after acquiring an additional 155 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of 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 during the last quarter. State of Michigan Retirement System raised its stake in shares of Nextpower by 0.6% in the second quarter. State of Michigan Retirement System now owns 34,600 shares of the company’s stock worth $1,881,000 after purchasing an additional 200 shares during the last quarter. Redwood Investment Management LLC lifted its holdings in shares of Nextpower by 4.1% during the second quarter. Redwood Investment Management LLC now owns 5,177 shares of the company’s stock valued at $281,000 after purchasing an additional 204 shares in the last quarter. Finally, Securian Asset Management Inc. boosted its position in shares of Nextpower by 2.1% during the third quarter. Securian Asset Management Inc. now owns 11,081 shares of the company’s stock valued at $820,000 after buying an additional 223 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on NXT shares. Weiss Ratings restated a “buy (b-)” rating on shares of Nextpower in a research note on Monday, December 29th. Guggenheim set a $74.00 price objective on shares of Nextpower in a report on Wednesday, October 22nd. Roth Mkm restated a “buy” rating and issued a $130.00 target price on shares of Nextpower in a report on Wednesday, January 28th. Mizuho set a $81.00 target price on shares of Nextpower in a research report on Friday, January 23rd. Finally, Wall Street Zen cut Nextpower from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $108.32.

Nextpower Price Performance

NASDAQ:NXT opened at $121.87 on Tuesday. The firm has a market capitalization of $18.10 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 3.57 and a beta of 2.34. The business has a fifty day moving average price of $97.29 and a 200-day moving average price of $84.65. Nextpower Inc. has a one year low of $36.06 and a one year high of $131.59.

Nextpower (NASDAQ:NXT) last issued its quarterly earnings results on Tuesday, January 27th. The company reported $1.10 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 business had revenue of $909.35 million during the quarter, compared to analysts’ expectations of $812.43 million. On average, equities research analysts expect that Nextpower Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nextpower news, CAO David P. Bennett sold 33,725 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $88.08, for a total transaction 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 $11,535,573.36. This trade represents a 20.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William D. Watkins sold 5,000 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $118.57, for a total transaction of $592,850.00. Following the completion of the transaction, the director directly owned 11,777 shares in the company, valued at $1,396,398.89. This trade represents a 29.80% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 96,468 shares of company stock worth $8,839,829. Corporate insiders own 0.56% of the company’s stock.

Nextpower Company 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.