Clark Estates Inc. NY Purchases Shares of 81,000 Nextracker Inc. (NASDAQ:NXT)

Clark Estates Inc. NY acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 81,000 shares of the company’s stock, valued at approximately $2,959,000. Clark Estates Inc. NY owned about 0.06% of Nextracker at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP increased 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 purchasing an additional 276 shares during the last quarter. Quarry LP boosted its holdings in shares of Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after buying an additional 426 shares during the period. Principal Securities Inc. grew its stake in Nextracker by 41.8% in the 4th 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 last quarter. Nisa Investment Advisors LLC raised its holdings in Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Nextracker during the third quarter worth approximately $74,000. 67.41% of the stock is owned by institutional investors.

Nextracker Stock Performance

NASDAQ NXT opened at $43.09 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The stock has a market cap of $6.27 billion, a PE ratio of 10.96 and a beta of 2.14. The firm’s fifty day moving average price is $43.78 and its two-hundred day moving average price is $39.45.

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

Insider Buying and Selling at Nextracker

In related news, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction that occurred on Wednesday, January 29th. The stock was 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 of the company’s stock, valued at $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Howard Wenger sold 6,066 shares of the company’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 sale, the president now owns 209,365 shares in the company, valued at $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,758 shares of company stock worth $1,217,520. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Nextracker from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price objective on Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial reissued a “buy” rating and issued a $56.00 target price (up previously from $54.00) on shares of Nextracker in a research report on Wednesday, January 29th. BMO Capital Markets upped their price target on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $56.00 in a research note on Wednesday, January 29th. Three investment 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.com, Nextracker presently has an average rating of “Moderate Buy” and a consensus price target 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.