Graybill Wealth Management LTD. purchased a new position in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 33,385 shares of the company's stock, valued at approximately $1,407,000.
Several other large investors have also recently made changes to their positions in NXT. SBI Securities Co. Ltd. lifted its position in Nextracker by 1,620.2% during the first quarter. SBI Securities Co. Ltd. now owns 5,453 shares of the company's stock valued at $230,000 after acquiring an additional 5,136 shares during 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 purchasing an additional 239 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of Nextracker by 21.8% during the first quarter. Edgestream Partners L.P. now owns 56,382 shares of the company's stock worth $2,376,000 after purchasing an additional 10,094 shares in the last quarter. CWM LLC lifted its holdings in shares of Nextracker by 456.9% during the 1st quarter. CWM LLC now owns 5,497 shares of the company's stock valued at $232,000 after purchasing an additional 4,510 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Nextracker by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 40,300 shares of the company's stock worth $1,698,000 after purchasing an additional 400 shares in the last quarter. 67.41% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently issued reports on NXT. Truist Financial upped their target price 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 restated an "overweight" rating on shares of Nextracker in a report on Thursday, May 15th. Wall Street Zen raised shares of Nextracker from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Barclays lifted their target price on shares of Nextracker from $58.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Robert W. Baird upped their price target on shares of Nextracker from $67.00 to $76.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Nextracker has an average rating of "Moderate Buy" and an average target price of $61.57.
Read Our Latest Stock Analysis on NXT
Insider Buying and Selling
In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the company's stock in a transaction that occurred 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 owned 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 document filed with the SEC, which is accessible through this link. Also, COO Nicholas Marco Miller sold 69,774 shares of the firm's 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 directly owned 175,216 shares in the company, valued at $10,451,634.40. The trade was a 28.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 210,476 shares of company stock valued at $12,169,880 in the last ninety days. Insiders own 0.56% of the company's stock.
Nextracker Stock Down 3.0%
Shares of NXT traded down $1.83 during mid-day trading on Monday, reaching $59.87. The company had a trading volume of 2,521,625 shares, compared to its average volume of 2,555,478. The stock has a market capitalization of $8.76 billion, a P/E ratio of 17.25, a PEG ratio of 1.58 and a beta of 2.25. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $67.87. The stock has a 50 day moving average of $57.20 and a two-hundred day moving average of $47.98.
About Nextracker
(
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.
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