Nextracker Inc. (NASDAQ:NXT) Insider Sells $455,480.55 in Stock

Nextracker Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction on Monday, February 10th. The shares were 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. The trade was a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Nextracker Trading Up 1.3 %

Shares of Nextracker stock opened at $45.91 on Friday. The firm has a market capitalization of $6.69 billion, a PE ratio of 11.68 and a beta of 2.14. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The firm’s 50-day moving average price is $40.91 and its 200 day moving average price is $39.02. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10.

Nextracker (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 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, sell-side analysts predict that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on NXT. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Northland Securities reaffirmed an “outperform” rating and issued a $55.00 price target (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Robert W. Baird lowered their price target on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler upped their price target on shares of Nextracker from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three equities 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Institutional Trading of Nextracker

A number of hedge funds have recently bought and sold shares of NXT. Allworth Financial LP raised its holdings in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Quarry LP increased 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 last quarter. GAMMA Investing LLC increased its holdings in shares of Nextracker by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after buying an additional 549 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Nextracker by 448.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock worth $47,000 after buying an additional 1,055 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nextracker during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 67.41% 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.