Captrust Financial Advisors Increases Stock Position in Nextracker Inc. (NASDAQ:NXT)

Captrust Financial Advisors grew its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 131.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,468 shares of the company's stock after acquiring an additional 7,650 shares during the period. Captrust Financial Advisors' holdings in Nextracker were worth $492,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NXT. Allworth Financial LP increased its holdings in Nextracker by 52.4% in the 4th 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. Signaturefd LLC increased its holdings in Nextracker by 14.7% in the 4th quarter. Signaturefd LLC now owns 2,344 shares of the company's stock valued at $86,000 after acquiring an additional 301 shares during the last quarter. Principal Securities Inc. grew its stake in shares of Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock worth $51,000 after buying an additional 410 shares in the last quarter. Mariner LLC grew its stake in shares of Nextracker by 4.3% in the 4th quarter. Mariner LLC now owns 11,328 shares of the company's stock worth $414,000 after buying an additional 469 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company's stock worth $68,000 after buying an additional 516 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Roth Capital reissued a "buy" rating and issued a $70.00 price objective (up from $55.00) on shares of Nextracker in a research note on Thursday, May 15th. Mizuho set a $60.00 price objective on shares of Nextracker in a research note on Thursday, May 15th. Royal Bank of Canada initiated coverage on shares of Nextracker in a research note on Monday, March 17th. They set an "outperform" rating and a $55.00 price target for the company. Finally, Susquehanna lifted their price target on shares of Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Nextracker currently has an average rating of "Moderate Buy" and an average target price of $60.00.

Insider Buying and Selling

In other Nextracker news, President Howard Wenger sold 6,066 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $333,630.00. Following the sale, the president now owns 219,389 shares of the company's stock, valued at approximately $12,066,395. The trade was a 2.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David P. Bennett sold 9,801 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total transaction of $539,055.00. Following the sale, the chief accounting officer now directly owns 124,615 shares in the company, valued at approximately $6,853,825. This represents a 7.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,337 shares of company stock worth $2,693,333 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Nextracker Price Performance

Shares of NASDAQ NXT remained flat at $56.05 during trading hours on Friday. 1,882,388 shares of the company traded hands, compared to its average volume of 2,902,625. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The firm has a market capitalization of $8.16 billion, a P/E ratio of 14.26 and a beta of 2.03. The firm's 50 day simple moving average is $44.70 and its two-hundred day simple moving average is $42.64. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $63.19.

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.