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Nextracker Inc. (NASDAQ:NXT) Shares Sold by Graphene Investments SAS

Nextracker logo with Energy background

Graphene Investments SAS lessened its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 58,600 shares of the company's stock after selling 6,000 shares during the period. Graphene Investments SAS's holdings in Nextracker were worth $2,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NXT. IFP Advisors Inc grew its stake in Nextracker by 516.4% during the 4th quarter. IFP Advisors Inc now owns 3,304 shares of the company's stock valued at $121,000 after acquiring an additional 2,768 shares in the last quarter. Robeco Schweiz AG purchased a new stake in Nextracker during the 4th quarter valued at about $22,112,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nextracker by 10.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,753,848 shares of the company's stock valued at $64,068,000 after acquiring an additional 161,873 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Nextracker by 115.1% during the 4th quarter. Jones Financial Companies Lllp now owns 13,186 shares of the company's stock valued at $482,000 after acquiring an additional 7,056 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Nextracker during the 4th quarter valued at about $961,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NXT. The Goldman Sachs Group upped their price objective on shares of Nextracker from $61.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays increased their price target on shares of Nextracker from $58.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Roth Capital reissued a "buy" rating and issued a $70.00 price target (up previously from $55.00) on shares of Nextracker in a research note on Thursday, May 15th. Fox Advisors cut shares of Nextracker from an "overweight" rating to an "equal weight" rating in a research note on Thursday, May 15th. Finally, Piper Sandler reissued an "overweight" rating on shares of Nextracker in a research note on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.33.

Check Out Our Latest Stock Analysis on NXT

Insider Activity at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the 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 completion of the transaction, the president owned 219,389 shares of the company's stock, valued at approximately $12,066,395. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Nicholas Marco Miller sold 69,774 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $59.65, for a total transaction of $4,162,019.10. Following the sale, the chief operating officer owned 175,216 shares in the company, valued at approximately $10,451,634.40. This trade represents a 28.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,260 shares of company stock worth $11,830,840. Company insiders own 0.56% of the company's stock.

Nextracker Price Performance

Shares of NASDAQ:NXT traded down $3.95 during mid-day trading on Monday, reaching $54.37. 4,703,279 shares of the company were exchanged, compared to its average volume of 2,674,472. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.50 and a beta of 2.39. The firm's 50-day simple moving average is $53.35 and its 200 day simple moving average is $46.25. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $63.19.

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.

See Also

Institutional Ownership by Quarter for Nextracker (NASDAQ:NXT)

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