Nextracker Inc. (NASDAQ:NXT) Shares Bought by Clayton Partners LLC

Clayton Partners LLC grew its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 47.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,689 shares of the company’s stock after buying an additional 21,923 shares during the period. Nextracker accounts for about 2.6% of Clayton Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Clayton Partners LLC’s holdings in Nextracker were worth $3,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in Nextracker by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 385,820 shares of the company’s stock worth $18,076,000 after purchasing an additional 5,012 shares during the period. SCP Investment LP acquired a new stake in shares of Nextracker in the 4th quarter worth approximately $424,000. Teacher Retirement System of Texas bought a new position in shares of Nextracker in the fourth quarter valued at approximately $265,000. Norges Bank acquired a new position in shares of Nextracker during the fourth quarter valued at approximately $120,861,000. Finally, UBS Group AG lifted its position in Nextracker by 75.6% in the fourth quarter. UBS Group AG now owns 207,983 shares of the company’s stock worth $9,744,000 after purchasing an additional 89,563 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Nextracker from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price target on shares of Nextracker in a research report on Friday, August 2nd. Barclays reduced their price objective on shares of Nextracker from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Guggenheim dropped their target price on shares of Nextracker from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Roth Mkm cut their target price on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.91.

Nextracker Stock Performance

NXT stock opened at $36.66 on Friday. The firm has a 50 day simple moving average of $41.03 and a 200 day simple moving average of $47.85. Nextracker Inc. has a 52 week low of $32.14 and a 52 week high of $62.31. The stock has a market cap of $5.32 billion, a P/E ratio of 10.91, a P/E/G ratio of 5.16 and a beta of 2.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.11.

Nextracker (NASDAQ:NXT) last issued its earnings results on Thursday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.27. Nextracker had a net margin of 14.87% and a negative return on equity of 36.33%. The company had revenue of $719.92 million during the quarter, compared to analyst estimates of $616.71 million. During the same quarter last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 50.1% on a year-over-year basis. Research analysts anticipate that Nextracker Inc. will post 2.57 earnings per share for the current fiscal 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.