Nextracker Inc. (NASDAQ:NXT) President Sells $272,970.00 in Stock

Nextracker Inc. (NASDAQ:NXT) President Howard Wenger sold 6,066 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nextracker Trading Down 2.4 %

Shares of Nextracker stock opened at $44.19 on Friday. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The business’s fifty day moving average is $38.47 and its two-hundred day moving average is $39.35. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.43 billion, a PE ratio of 11.02 and a beta of 2.04.

Hedge Funds Weigh In On Nextracker

Several institutional investors have recently added to or reduced their stakes in NXT. Quarry LP grew its holdings in Nextracker by 61.5% in the 3rd 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. GAMMA Investing LLC boosted its position in shares of Nextracker by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after acquiring an additional 549 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 purchasing an additional 516 shares during the period. Neo Ivy Capital Management acquired a new position in Nextracker during the third quarter worth approximately $74,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of Nextracker in the 3rd quarter valued at $75,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXT. Northland Securities restated an “outperform” rating and set a $48.00 target price on shares of Nextracker in a research report on Tuesday, November 19th. JPMorgan Chase & Co. dropped their price objective on Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Susquehanna decreased their target price on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Citigroup lowered their target price on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Guggenheim reaffirmed a “buy” rating and set a $55.00 price target on shares of Nextracker in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.10.

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.