Hodges Capital Management Inc. acquired a new stake in shares of Nextracker Inc. (NASDAQ:NXT – Free Report) during the first quarter, HoldingsChannel reports. The fund acquired 48,426 shares of the company’s stock, valued at approximately $2,725,000.
Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Nextracker in the first quarter valued at approximately $37,000. Wahed Invest LLC bought a new stake in Nextracker in the fourth quarter valued at approximately $43,000. Tucker Asset Management LLC bought a new stake in Nextracker in the third quarter valued at approximately $42,000. Global Retirement Partners LLC bought a new stake in Nextracker in the fourth quarter valued at approximately $63,000. Finally, Quarry LP lifted its position in Nextracker by 197.5% in the fourth quarter. Quarry LP now owns 1,428 shares of the company’s stock valued at $67,000 after purchasing an additional 948 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.
Nextracker Trading Down 4.6 %
Nextracker stock opened at $46.88 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.76. Nextracker Inc. has a one year low of $32.14 and a one year high of $62.31. The stock has a market capitalization of $6.80 billion, a PE ratio of 13.95 and a beta of 2.66. The business’s fifty day moving average is $50.32 and its 200 day moving average is $51.15.
Insider Activity at Nextracker
In other Nextracker news, insider Bruce Ledesma sold 12,135 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $43.91, for a total value of $532,847.85. Following the transaction, the insider now owns 17,387 shares of the company’s stock, valued at $763,463.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Nextracker news, insider Leah Schlesinger sold 2,149 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $51.91, for a total value of $111,554.59. Following the transaction, the insider now owns 11,910 shares of the company’s stock, valued at $618,248.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Ledesma sold 12,135 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $43.91, for a total value of $532,847.85. Following the completion of the transaction, the insider now directly owns 17,387 shares in the company, valued at approximately $763,463.17. The disclosure for this sale can be found here. Insiders have sold 22,639 shares of company stock valued at $1,084,460 over the last ninety days. Insiders own 0.09% of the company’s stock.
Wall Street Analysts Forecast Growth
NXT has been the subject of a number of recent analyst reports. Mizuho decreased their target price on Nextracker from $64.00 to $59.00 and set a “buy” rating for the company in a report on Friday, April 19th. Fox Advisors upgraded Nextracker from an “equal weight” rating to an “overweight” rating and set a $60.00 target price for the company in a report on Wednesday, May 15th. Wells Fargo & Company decreased their target price on Nextracker from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, May 15th. Robert W. Baird initiated coverage on Nextracker in a report on Thursday, March 21st. They set an “outperform” rating and a $71.00 target price for the company. Finally, Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Nextracker in a report on Wednesday, May 15th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.54.
View Our Latest Stock Report on NXT
About Nextracker
Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.
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