Green Alpha Advisors LLC Purchases 19,947 Shares of Nextracker Inc. (NASDAQ:NXT)

Green Alpha Advisors LLC boosted its position in Nextracker Inc. (NASDAQ:NXT - Free Report) by 212.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,347 shares of the company's stock after purchasing an additional 19,947 shares during the period. Nextracker accounts for about 1.3% of Green Alpha Advisors LLC's portfolio, making the stock its 20th biggest holding. Green Alpha Advisors LLC's holdings in Nextracker were worth $1,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NXT. Barclays PLC boosted its position in shares of 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. Renaissance Capital LLC boosted its stake in shares of Nextracker by 3.5% in the 4th quarter. Renaissance Capital LLC now owns 159,779 shares of the company's stock worth $5,837,000 after buying an additional 5,390 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Nextracker during the fourth quarter valued at approximately $1,582,000. Figure 8 Investment Strategies LLC purchased a new stake in shares of Nextracker during the fourth quarter valued at approximately $393,000. Finally, Principal Securities Inc. increased its position in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock worth $51,000 after buying an additional 410 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Insider Transactions at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $55.00, for a total value of $333,630.00. Following the transaction, the president now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bruce Ledesma sold 27,453 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $60.17, for a total value of $1,651,847.01. Following the completion of the sale, the insider now owns 120,972 shares of the company's stock, valued at $7,278,885.24. The trade was a 18.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,898 shares of company stock valued at $7,348,516 in the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Nextracker Stock Up 4.9%

Nextracker stock traded up $2.69 during trading hours on Tuesday, hitting $57.98. 2,328,408 shares of the stock traded hands, compared to its average volume of 2,876,074. 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 firm's 50-day moving average price is $46.04 and its two-hundred day moving average price is $43.37. Nextracker Inc. has a one year low of $30.93 and a one year high of $63.19. The company has a market cap of $8.44 billion, a PE ratio of 14.75 and a beta of 2.03.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays raised their target price on Nextracker from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their price target on Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Guggenheim lowered Nextracker from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Mizuho raised their price target on Nextracker from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Fox Advisors lowered Nextracker from an "overweight" rating to an "equal weight" rating in a report on Thursday, May 15th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.33.

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.