Css LLC Il Takes $345,000 Position in Nextracker Inc. (NASDAQ:NXT)

CSS LLC IL bought a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,440 shares of the company's stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also made changes to their positions in NXT. Barclays PLC grew its stake in Nextracker by 259.8% during the 3rd quarter. Barclays PLC now owns 259,800 shares of the company's stock valued at $9,737,000 after purchasing an additional 187,598 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Nextracker during the fourth quarter worth approximately $10,228,000. Nisa Investment Advisors LLC grew its position in shares of 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 buying an additional 516 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in shares of Nextracker in the fourth quarter worth $450,000. Finally, Secure Asset Management LLC raised its holdings in Nextracker by 14.8% in the fourth quarter. Secure Asset Management LLC now owns 41,948 shares of the company's stock valued at $1,532,000 after acquiring an additional 5,408 shares in the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on NXT. Mizuho set a $60.00 price objective on shares of Nextracker in a report on Thursday, May 15th. Wells Fargo & Company increased their price target on shares of Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Robert W. Baird lowered their price objective on Nextracker from $59.00 to $48.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group upgraded Nextracker from a "hold" rating to a "buy" rating and upped their price objective for the company from $46.00 to $56.00 in a research note on Wednesday, January 29th. Finally, Guggenheim downgraded Nextracker from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Insider Transactions at Nextracker

In related news, insider Bruce Ledesma sold 27,453 shares of Nextracker stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $60.17, for a total transaction of $1,651,847.01. Following the transaction, the insider now directly owns 120,972 shares of the company's stock, valued at $7,278,885.24. The trade was a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $539,055.00. Following the completion of the sale, the chief accounting officer now directly owns 124,615 shares of the company's stock, valued at $6,853,825. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,337 shares of company stock valued at $2,693,333. Company insiders own 0.27% of the company's stock.

Nextracker Price Performance

NXT traded down $0.81 on Wednesday, reaching $55.07. The company had a trading volume of 658,168 shares, compared to its average volume of 2,891,948. The company has a market capitalization of $8.02 billion, a P/E ratio of 14.03 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. The company has a fifty day moving average of $45.14 and a 200-day moving average of $42.85. Nextracker Inc. has a one year low of $30.93 and a one 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.