New Age Alpha Advisors LLC Acquires Shares of 31,889 Nextracker Inc. (NASDAQ:NXT)

New Age Alpha Advisors LLC bought a new position in shares of Nextracker Inc. (NASDAQ:NXT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 31,889 shares of the company’s stock, valued at approximately $1,165,000.

A number of other large investors have also bought and sold shares of NXT. Allworth Financial LP lifted its position in Nextracker by 52.4% during the 4th 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 period. Quarry LP raised its holdings in shares of Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares during the period. Millstone Evans Group LLC bought a new stake in shares of Nextracker in the fourth quarter valued at about $48,000. Principal Securities Inc. boosted its position in Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after acquiring an additional 410 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Nextracker by 38.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after purchasing an additional 516 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction 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 $9,421,425. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the sale, the insider now owns 132,374 shares in the company, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock worth $1,217,520 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NXT has been the topic of several research analyst reports. BNP Paribas raised Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. Citigroup reduced their price target on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. TD Cowen started coverage on shares of Nextracker in a research note on Thursday, December 19th. They set a “hold” rating and a $41.00 target price for the company. BMO Capital Markets boosted their price target on 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 Nextracker from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $56.00 in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.43.

Nextracker Trading Down 2.3 %

NXT stock opened at $42.14 on Tuesday. The company has a market capitalization of $6.14 billion, a PE ratio of 10.72 and a beta of 2.24. The firm’s 50-day moving average is $45.05 and its 200 day moving average is $40.18. Nextracker Inc. has a 12 month low of $30.93 and a 12 month 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.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that Nextracker Inc. will post 3.29 EPS for the current year.

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.