Nextracker Inc. (NASDAQ:NXT) Stock Position Lifted by Lbp Am Sa

Lbp Am Sa boosted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 57.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,359 shares of the company’s stock after purchasing an additional 19,059 shares during the period. Lbp Am Sa’s holdings in Nextracker were worth $1,913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Nextracker by 52.4% in the fourth 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 lifted its stake in Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after acquiring an additional 426 shares during the last quarter. Principal Securities Inc. lifted its stake in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after acquiring an additional 410 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Nextracker by 38.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Nextracker in the third quarter valued at approximately $74,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nextracker

In other news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the sale, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This represents a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock valued at $1,217,520 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Nextracker Trading Down 1.9 %

Shares of Nextracker stock opened at $44.31 on Friday. The firm has a market capitalization of $6.45 billion, a PE ratio of 11.27 and a beta of 2.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The company’s fifty day moving average price is $44.72 and its two-hundred day moving average price is $39.61. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings results 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, analysts expect that Nextracker Inc. will post 3.29 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Piper Sandler boosted their price objective on shares of Nextracker from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group boosted their price objective on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. TD Cowen initiated coverage on shares of Nextracker in a research note on Thursday, December 19th. They issued a “hold” rating and a $41.00 price objective for the company. Finally, Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.50.

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.