BlackBarn Capital Partners LP acquired a new position in Nextracker Inc. (NASDAQ:NXT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 360,000 shares of the company's stock, valued at approximately $15,170,000. Nextracker accounts for about 1.0% of BlackBarn Capital Partners LP's portfolio, making the stock its 8th largest position. BlackBarn Capital Partners LP owned 0.25% of Nextracker as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC raised its position in Nextracker by 796.0% in the first quarter. Summit Securities Group LLC now owns 905 shares of the company's stock worth $38,000 after acquiring an additional 804 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Nextracker in the first quarter worth about $40,000. Sterling Capital Management LLC increased its stake in shares of Nextracker by 448.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after purchasing an additional 1,055 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in shares of Nextracker in the fourth quarter worth about $47,000. Finally, Fifth Third Bancorp increased its stake in shares of Nextracker by 27.5% in the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock worth $51,000 after purchasing an additional 260 shares in the last quarter. Institutional investors own 67.41% of the company's stock.
Insider Buying and Selling at Nextracker
In related news, President Howard Wenger sold 5,703 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $70.00, for a total transaction of $399,210.00. Following the transaction, the president owned 414,256 shares of the company's stock, valued at approximately $28,997,920. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Nicholas Marco Miller sold 69,774 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $59.65, for a total transaction of $4,162,019.10. Following the transaction, the chief operating officer directly owned 175,216 shares in the company, valued at approximately $10,451,634.40. This represents a 28.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 186,822 shares of company stock worth $10,836,212 in the last quarter. 0.56% of the stock is currently owned by company insiders.
Nextracker Stock Performance
Shares of NXT stock traded down $1.18 on Monday, hitting $67.59. 1,801,540 shares of the company's stock traded hands, compared to its average volume of 2,991,975. Nextracker Inc. has a one year low of $30.93 and a one year high of $70.14. The company's fifty day simple moving average is $60.58 and its 200 day simple moving average is $51.82. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.60 and a beta of 2.25.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on NXT. Roth Capital reiterated a "buy" rating and issued a $80.00 target price (up previously from $70.00) on shares of Nextracker in a research note on Tuesday, July 29th. Cowen reiterated a "hold" rating on shares of Nextracker in a research note on Wednesday, July 30th. Mizuho set a $66.00 target price on shares of Nextracker in a research note on Wednesday, July 30th. Bank of America boosted their price objective on shares of Nextracker from $66.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird boosted their price objective on shares of Nextracker from $67.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Nextracker presently has an average rating of "Moderate Buy" and an average price target of $65.00.
Check Out Our Latest Report on NXT
Nextracker Company Profile
(
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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