Graphene Investments SAS Has $2.36 Million Stock Position in Nextracker Inc. (NASDAQ:NXT)

Graphene Investments SAS trimmed its position in shares of Nextracker Inc. (NASDAQ:NXT) by 1.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 64,600 shares of the company’s stock after selling 1,200 shares during the period. Graphene Investments SAS’s holdings in Nextracker were worth $2,360,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Nextracker by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock valued at $134,724,000 after purchasing an additional 679,272 shares during the last quarter. Secure Asset Management LLC bought a new position in shares of Nextracker in the third quarter valued at about $1,370,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Nextracker by 33.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company’s stock worth $45,983,000 after buying an additional 307,956 shares during the period. Van ECK Associates Corp lifted its position in Nextracker by 30.7% during the third quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock worth $2,272,000 after acquiring an additional 14,249 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of Nextracker in the fourth quarter valued at approximately $5,734,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Performance

Shares of Nextracker stock opened at $47.61 on Friday. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The firm has a market capitalization of $6.93 billion, a P/E ratio of 12.11 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The company’s 50 day moving average price is $40.21 and its two-hundred day moving average price is $39.06.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. On average, equities analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group boosted their price target on Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group upped their price target on shares of Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BNP Paribas upgraded shares of Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $47.00 to $60.00 in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $56.00 in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Insider Activity

In related news, CAO David P. Bennett sold 9,801 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the sale, the chief accounting officer now owns 124,577 shares of the company’s stock, valued at $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.