Greenwich Wealth Management LLC Purchases 680 Shares of Nextracker Inc. (NASDAQ:NXT)

Greenwich Wealth Management LLC boosted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 7.2% in the 4th quarter, HoldingsChannel reports. The firm owned 10,179 shares of the company’s stock after buying an additional 680 shares during the period. Greenwich Wealth Management LLC’s holdings in Nextracker were worth $372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in Nextracker by 516.4% in the fourth quarter. IFP Advisors Inc now owns 3,304 shares of the company’s stock worth $121,000 after purchasing an additional 2,768 shares in the last quarter. Robeco Schweiz AG acquired a new position in Nextracker during the 4th quarter worth about $22,112,000. New York State Common Retirement Fund grew its holdings in Nextracker by 65.6% during the 4th quarter. New York State Common Retirement Fund now owns 469,163 shares of the company’s stock worth $17,139,000 after acquiring an additional 185,858 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nextracker by 10.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,753,848 shares of the company’s stock valued at $64,068,000 after acquiring an additional 161,873 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Nextracker by 23.3% in the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock worth $134,724,000 after acquiring an additional 679,272 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Trading Down 1.9 %

NASDAQ NXT opened at $44.31 on Monday. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. 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 firm has a market cap of $6.45 billion, a P/E ratio of 11.27 and a beta of 2.24. The stock’s 50-day moving average is $44.72 and its 200-day moving average is $39.60.

Nextracker (NASDAQ:NXT) last announced its earnings results on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BNP Paribas raised shares of Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Jefferies Financial Group raised Nextracker from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $56.00 in a research note on Wednesday, January 29th. UBS Group upped 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. TD Cowen assumed coverage on Nextracker in a research report on Thursday, December 19th. They issued a “hold” rating and a $41.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Insiders Place Their Bets

In other news, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total value of $489,069.90. Following the sale, the chief accounting officer now directly owns 124,577 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $46.05, for a total transaction of $455,480.55. Following the completion of the sale, the insider now directly owns 132,374 shares in the company, valued at approximately $6,095,822.70. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,758 shares of company stock worth $1,217,520. Corporate 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.