Lloyd Harbor Capital Management LLC bought a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 80,000 shares of the company's stock, valued at approximately $2,922,000. Nextracker comprises about 1.9% of Lloyd Harbor Capital Management LLC's holdings, making the stock its 17th largest position. Lloyd Harbor Capital Management LLC owned approximately 0.05% of Nextracker as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP increased its position in shares of 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 buying an additional 276 shares in the last quarter. Signaturefd LLC lifted its position in shares of Nextracker by 14.7% during the 4th quarter. Signaturefd LLC now owns 2,344 shares of the company's stock valued at $86,000 after buying an additional 301 shares in the last quarter. Principal Securities Inc. grew its stake in Nextracker by 41.8% in the 4th 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 period. Mariner LLC increased its holdings in Nextracker by 4.3% in the 4th quarter. Mariner LLC now owns 11,328 shares of the company's stock worth $414,000 after acquiring an additional 469 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised 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 acquiring an additional 516 shares during the period. Institutional investors and hedge funds own 67.41% of the company's stock.
Insider Transactions at Nextracker
In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $539,055.00. Following the completion of the transaction, the chief accounting officer now owns 124,615 shares in the company, valued at $6,853,825. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Howard Wenger sold 6,066 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total value of $333,630.00. Following the sale, the president now directly owns 219,389 shares in the company, valued at $12,066,395. This represents a 2.69% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on NXT shares. BMO Capital Markets lifted their target price on shares of Nextracker from $51.00 to $59.00 and gave the company a "market perform" rating in a research report on Thursday. Piper Sandler set a $49.00 price objective on Nextracker in a report on Monday, April 21st. Fox Advisors lowered Nextracker from an "overweight" rating to an "equal weight" rating in a research note on Thursday. Northland Securities restated an "outperform" rating and issued a $55.00 target price (up previously from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $70.00 price target (up from $55.00) on shares of Nextracker in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.62.
Read Our Latest Stock Report on Nextracker
Nextracker Trading Up 11.9%
Nextracker stock traded up $6.55 during trading on Thursday, hitting $61.59. The company had a trading volume of 8,197,941 shares, compared to its average volume of 2,974,700. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 15.67 and a beta of 2.03. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $63.06. The company's 50 day simple moving average is $42.75 and its 200-day simple moving average is $41.63.
Nextracker Profile
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Free Report)
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.
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