Renaissance Technologies LLC Reduces Stake in XPLR Infrastructure, LP $XIFR

Key Points

• Renaissance Technologies cut its XPLR Infrastructure stake by 56.5% in the first quarter, selling 385,700 shares and retaining 297,000 shares worth approximately $3.15 million.
• Institutional ownership remains substantial at 66.01%, with several other financial institutions initiating or expanding positions in XPLR Infrastructure.
• Analyst sentiment is cautious: the stock has a consensus rating of “Reduce” and an average price target of $12.33, despite XPLR reporting quarterly EPS of $0.40—well above the estimated $(0.50).

Renaissance Technologies LLC lowered its stake in XPLR Infrastructure, LP (NYSE:XIFR - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 297,000 shares of the solar energy provider's stock after selling 385,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.32% of XPLR Infrastructure worth $3,154,000 as of its most recent filing with the Securities & Exchange Commission.

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A number of other hedge funds have also added to or reduced their stakes in XIFR. US Bancorp DE purchased a new stake in shares of XPLR Infrastructure in the third quarter worth about $28,000. Huntington National Bank grew its stake in XPLR Infrastructure by 715.6% during the fourth quarter. Huntington National Bank now owns 3,075 shares of the solar energy provider's stock valued at $31,000 after acquiring an additional 2,698 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in XPLR Infrastructure during the second quarter valued at approximately $55,000. CANADA LIFE ASSURANCE Co bought a new stake in XPLR Infrastructure during the 2nd quarter worth approximately $77,000. Finally, SG Americas Securities LLC purchased a new stake in XPLR Infrastructure in the 4th quarter worth approximately $106,000. Hedge funds and other institutional investors own 66.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on XIFR. Evercore set a $11.00 price target on shares of XPLR Infrastructure in a research report on Monday, May 11th. Wall Street Zen upgraded XPLR Infrastructure from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. Morgan Stanley lifted their price objective on XPLR Infrastructure from $11.00 to $12.00 and gave the company an "underweight" rating in a research note on Wednesday, May 20th. Canadian Imperial Bank of Commerce restated a "neutral" rating and set a $12.00 target price on shares of XPLR Infrastructure in a research report on Friday, July 17th. Finally, Weiss Ratings raised XPLR Infrastructure from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, XPLR Infrastructure presently has a consensus rating of "Reduce" and an average target price of $12.33.

XPLR Infrastructure Price Performance

XIFR opened at $11.49 on Friday. The stock has a 50-day moving average price of $12.00 and a 200-day moving average price of $11.05. XPLR Infrastructure, LP has a 12-month low of $8.68 and a 12-month high of $13.25. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.08 billion, a P/E ratio of 17.67 and a beta of 0.94.

XPLR Infrastructure (NYSE:XIFR - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The solar energy provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.90. The company had revenue of $363.00 million for the quarter. XPLR Infrastructure had a return on equity of 0.61% and a net margin of 5.24%.During the same period in the prior year, the business posted $0.84 earnings per share. Equities analysts predict that XPLR Infrastructure, LP will post -1.41 earnings per share for the current fiscal year.

About XPLR Infrastructure

XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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