DRW Securities LLC Invests $1.19 Million in Nextracker Inc. $NXT

Key Points

• DRW Securities LLC invested approximately $1.19 million in Nextracker Inc., acquiring 28,300 shares in the first quarter as disclosed in their SEC filing.
• Institutional investors now own 67.41% of Nextracker's stock, with several firms, like Shell Asset Management and Fifth Third Bancorp, increasing their positions recently.
• Nextracker's stock currently has an average price target of $65.00 from analysts, with most rating it a "Moderate Buy," following a series of positive upgrades to target prices.

DRW Securities LLC acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,300 shares of the company's stock, valued at approximately $1,193,000.

Several other large investors also recently made changes to their positions in the stock. Shell Asset Management Co. increased its position in shares of Nextracker by 0.4% during the fourth quarter. Shell Asset Management Co. now owns 57,329 shares of the company's stock worth $2,094,000 after acquiring an additional 228 shares in the last quarter. Signaturefd LLC increased its position in shares of Nextracker by 10.2% during the first quarter. Signaturefd LLC now owns 2,583 shares of the company's stock worth $109,000 after acquiring an additional 239 shares in the last quarter. Trust Investment Advisors increased its position in shares of Nextracker by 2.8% during the first quarter. Trust Investment Advisors now owns 9,609 shares of the company's stock worth $405,000 after acquiring an additional 258 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Nextracker by 27.5% during the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock worth $51,000 after acquiring an additional 260 shares in the last quarter. Finally, Boston Partners increased its position in shares of Nextracker by 2.7% during the first quarter. Boston Partners now owns 10,494 shares of the company's stock worth $442,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Nextracker Price Performance

Shares of NXT stock opened at $67.26 on Monday. The stock has a market cap of $9.95 billion, a P/E ratio of 18.33, a P/E/G ratio of 1.56 and a beta of 2.26. The company has a fifty day moving average price of $61.31 and a two-hundred day moving average price of $52.45. Nextracker Inc. has a one year low of $30.93 and a one year high of $70.14.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Nextracker from $51.00 to $59.00 and gave the stock a "market perform" rating in a research report on Thursday, May 15th. Mizuho set a $66.00 target price on shares of Nextracker in a report on Wednesday, July 30th. TD Cowen increased their target price on shares of Nextracker from $55.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Nextracker from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 3rd. Finally, UBS Group increased their target price on shares of Nextracker from $71.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $65.00.

Insider Activity

In other Nextracker news, COO Nicholas Marco Miller sold 5,588 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $57.32, for a total value of $320,304.16. Following the completion of the sale, the chief operating officer owned 170,000 shares in the company, valued at $9,744,400. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bruce Ledesma sold 6,980 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $56.24, for a total transaction of $392,555.20. Following the completion of the sale, the insider owned 195,790 shares of the company's stock, valued at approximately $11,011,229.60. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,261 shares of company stock worth $6,181,028. 0.56% of the stock is owned by insiders.

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.

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