Css LLC Il bought a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,440 shares of the company's stock, valued at approximately $345,000.
Other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its position in shares of Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after buying an additional 276 shares during the period. Sterling Capital Management LLC grew its position in shares of Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock valued at $47,000 after purchasing an additional 1,055 shares during the period. Virtus Fund Advisers LLC acquired a new position in shares of Nextracker in the 4th quarter valued at approximately $47,000. Millstone Evans Group LLC acquired a new position in shares of Nextracker in the 4th quarter valued at approximately $48,000. Finally, Principal Securities Inc. grew its position in shares of 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 purchasing an additional 410 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Nextracker
In related news, CAO David P. Bennett sold 9,801 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total value of $539,055.00. Following the sale, the chief accounting officer now owns 124,615 shares in the company, valued at approximately $6,853,825. This represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Howard Wenger sold 6,066 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $333,630.00. Following the completion of the sale, the president now owns 219,389 shares in the company, valued at approximately $12,066,395. This trade represents a 2.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,320 shares of company stock worth $2,524,532 in the last 90 days. Corporate insiders own 0.27% of the company's stock.
Nextracker Trading Down 3.1%
Shares of Nextracker stock opened at $56.05 on Friday. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $63.19. The stock has a market cap of $8.16 billion, a P/E ratio of 14.26 and a beta of 2.03. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The business's 50 day moving average is $44.47 and its 200-day moving average is $42.55.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Nextracker from a "hold" rating to a "buy" rating in a research report on Thursday. Northland Securities reiterated an "outperform" rating and issued a $55.00 price objective (up from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Truist Financial boosted their price objective on Nextracker from $49.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating on shares of Nextracker in a research report on Thursday, May 15th. Finally, Wells Fargo & Company boosted their price objective on Nextracker from $69.00 to $71.00 and gave the company an "overweight" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Nextracker currently has an average rating of "Moderate Buy" and a consensus target price of $60.00.
View 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.
Further Reading
Want to see what other hedge funds are holding NXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nextracker Inc. (NASDAQ:NXT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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