Clark Estates Inc. NY Takes $2.96 Million Position in Nextracker Inc. (NASDAQ:NXT)

Clark Estates Inc. NY bought a new position in shares of Nextracker Inc. (NASDAQ:NXT) in the 4th quarter, Holdings Channel reports. The fund bought 81,000 shares of the company’s stock, valued at approximately $2,959,000.

Several other large investors have also added to or reduced their stakes in the business. Holocene Advisors LP bought a new stake in Nextracker in the third quarter valued at $45,416,000. Erste Asset Management GmbH acquired a new stake in shares of Nextracker in the 3rd quarter valued at about $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nextracker by 88.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591,975 shares of the company’s stock valued at $59,667,000 after buying an additional 745,665 shares during the period. State Street Corp increased its position in Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock valued at $190,041,000 after buying an additional 690,343 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock worth $127,169,000 after buying an additional 688,810 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of Nextracker from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company decreased their target price on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Guggenheim raised their price target on shares of Nextracker from $50.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.50.

Nextracker Stock Up 1.6 %

Nextracker stock opened at $43.09 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.27 billion, a P/E ratio of 10.96 and a beta of 2.14. The firm has a 50 day moving average price of $43.78 and a 200-day moving average price of $39.45. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.

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

Insider Buying and Selling

In related news, President Howard Wenger sold 6,066 shares of Nextracker 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 transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of the business’s stock in a transaction 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 owns 124,577 shares in the company, valued at approximately $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,758 shares of company stock valued at $1,217,520. 0.27% of the stock is owned by insiders.

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.