Erste Asset Management GmbH Has $39.70 Million Position in Nextracker Inc. (NASDAQ:NXT)

Erste Asset Management GmbH boosted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,066,560 shares of the company’s stock after purchasing an additional 203,594 shares during the quarter. Erste Asset Management GmbH owned 0.73% of Nextracker worth $39,704,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after buying an additional 276 shares during the period. Quarry LP boosted its holdings in shares of Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after buying an additional 426 shares during the period. Principal Securities Inc. boosted its holdings in shares of Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after buying an additional 410 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Nextracker by 38.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after buying an additional 516 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Nextracker in the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Price Performance

NASDAQ:NXT opened at $44.32 on Thursday. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The company has a market cap of $6.45 billion, a P/E ratio of 11.28 and a beta of 2.24. The firm’s fifty day moving average price is $44.51 and its two-hundred day moving average price is $39.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96.

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

Insider Buying and Selling at Nextracker

In related news, CAO David P. Bennett sold 9,801 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total value of $489,069.90. Following the transaction, the chief accounting officer now directly owns 124,577 shares in the company, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares in the company, valued at $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 have sold a total of 25,758 shares of company stock worth $1,217,520 over the last ninety days. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

NXT has been the subject of several research analyst reports. Northland Securities reiterated an “outperform” rating and issued a $55.00 price target (up previously from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Citigroup reduced their price target on shares of Nextracker from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Piper Sandler boosted their price objective on shares of Nextracker from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. BMO Capital Markets boosted their price objective on shares of Nextracker from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company cut their price objective on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Nextracker presently has an average rating of “Moderate Buy” and an average target price of $56.50.

Nextracker 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.