Horizon Investment Services LLC purchased a new position in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,305 shares of the company's stock, valued at approximately $266,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Nextracker during the fourth quarter worth about $106,166,000. Encompass Capital Advisors LLC acquired a new stake in Nextracker during the 4th quarter worth approximately $55,690,000. Invesco Ltd. lifted its holdings in Nextracker by 52.2% during the 4th quarter. Invesco Ltd. now owns 3,874,875 shares of the company's stock worth $141,549,000 after purchasing an additional 1,329,456 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Nextracker by 8,408.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 837,067 shares of the company's stock worth $30,578,000 after purchasing an additional 827,229 shares during the last quarter. Finally, Goodlander Investment Management LLC acquired a new position in shares of Nextracker in the 4th quarter valued at approximately $18,996,000. Institutional investors own 67.41% of the company's stock.
Insider Buying and Selling at Nextracker
In other Nextracker news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $333,630.00. Following the sale, the president owned 219,389 shares of the company's stock, valued at approximately $12,066,395. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bruce Ledesma sold 83,561 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $55.71, for a total transaction of $4,655,183.31. Following the completion of the transaction, the insider owned 195,790 shares of the company's stock, valued at approximately $10,907,460.90. The trade was a 29.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 210,476 shares of company stock valued at $12,169,880 in the last three months. Insiders own 0.56% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Wall Street Zen raised Nextracker from a "buy" rating to a "strong-buy" rating in a research report on Friday. Truist Financial boosted their target price on shares of Nextracker from $49.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Wells Fargo & Company upped their target price on shares of Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a report on Monday, May 19th. Mizuho reissued a "neutral" rating and set a $65.00 price objective (down previously from $67.00) on shares of Nextracker in a report on Monday, July 14th. Finally, Susquehanna increased their price target on shares of Nextracker from $66.00 to $76.00 and gave the company a "positive" rating in a report on Monday. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.05.
View Our Latest Stock Report on Nextracker
Nextracker Stock Performance
NXT traded up $1.00 during trading on Monday, reaching $61.53. The company's stock had a trading volume of 1,237,978 shares, compared to its average volume of 2,652,984. The company's fifty day moving average price is $58.93 and its 200-day moving average price is $48.81. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.55 and a beta of 2.25. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $67.87.
Nextracker 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.
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