Nextracker Inc. $NXT Holdings Raised by Clayton Partners LLC

Key Points

• Clayton Partners LLC increased its stake in Nextracker Inc. by 8.3% during the first quarter, owning a total of 78,261 shares valued at approximately $3.3 million.
• Wall Street analysts have issued mixed ratings for Nextracker, with one "Strong Buy", fourteen "Buy", and nine "Hold" ratings, and a consensus price target suggests potential growth.
• Insider transactions revealed significant sales, with the Director of Nextracker selling 10,000 shares and insider Bruce Ledesma selling 6,980 shares, indicating potential shifts in confidence among executives.

Clayton Partners LLC increased its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 78,261 shares of the company's stock after acquiring an additional 6,007 shares during the period. Nextracker makes up approximately 2.9% of Clayton Partners LLC's holdings, making the stock its 17th largest holding. Clayton Partners LLC owned about 0.05% of Nextracker worth $3,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Nextracker by 56.5% during the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company's stock worth $220,722,000 after purchasing an additional 1,890,445 shares during the last quarter. Sachem Head Capital Management LP increased its holdings in Nextracker by 4.3% during the 4th quarter. Sachem Head Capital Management LP now owns 2,977,500 shares of the company's stock worth $108,768,000 after purchasing an additional 122,500 shares during the last quarter. Deutsche Bank AG increased its holdings in Nextracker by 12.8% during the 4th quarter. Deutsche Bank AG now owns 2,152,084 shares of the company's stock worth $78,616,000 after purchasing an additional 244,725 shares during the last quarter. Northern Trust Corp increased its holdings in Nextracker by 10.5% during the 4th quarter. Northern Trust Corp now owns 1,917,024 shares of the company's stock worth $70,029,000 after purchasing an additional 181,741 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Nextracker by 33.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,916,233 shares of the company's stock worth $70,005,000 after purchasing an additional 483,483 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, President Howard Wenger sold 5,703 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the sale, the president owned 414,256 shares of the company's stock, valued at approximately $28,997,920. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce Ledesma sold 6,980 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $56.24, for a total value of $392,555.20. Following the completion of the sale, the insider directly owned 195,790 shares in the company, valued at $11,011,229.60. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,261 shares of company stock valued at $6,181,028 in the last quarter. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on NXT shares. Bank of America lifted their target price on Nextracker from $66.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Truist Financial lifted their target price on Nextracker from $49.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Susquehanna lifted their target price on Nextracker from $66.00 to $76.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. Piper Sandler reiterated an "overweight" rating on shares of Nextracker in a research report on Thursday, May 15th. Finally, Fox Advisors downgraded Nextracker from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Nextracker Trading Down 0.8%

NXT traded down $0.56 during trading hours on Tuesday, hitting $66.70. The company's stock had a trading volume of 1,132,279 shares, compared to its average volume of 2,531,093. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $70.14. The firm has a market capitalization of $9.87 billion, a PE ratio of 18.17, a PEG ratio of 1.56 and a beta of 2.26. The company has a 50-day simple moving average of $61.53 and a 200 day simple moving average of $52.59.

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.