Jackson Creek Investment Advisors LLC bought a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,610 shares of the company's stock, valued at approximately $1,543,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in shares of Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock valued at $47,000 after acquiring an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of Nextracker in the 4th quarter valued at about $47,000. Millstone Evans Group LLC bought a new stake in shares of Nextracker in the 4th quarter valued at about $48,000. Fifth Third Bancorp lifted its stake in shares of Nextracker by 27.5% in the 1st quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock valued at $51,000 after acquiring an additional 260 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Nextracker by 127.2% in the 1st quarter. UMB Bank n.a. now owns 1,504 shares of the company's stock valued at $63,000 after acquiring an additional 842 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.
Nextracker Price Performance
Shares of Nextracker stock traded up $0.05 during trading on Friday, hitting $60.53. 1,919,962 shares of the stock were exchanged, compared to its average volume of 2,658,665. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.55 and a beta of 2.25. The firm's 50-day moving average price is $58.93 and its 200 day moving average price is $48.74. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $67.87.
Analyst Upgrades and Downgrades
Several research firms have weighed in on NXT. Robert W. Baird increased their price objective on Nextracker from $67.00 to $76.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Guggenheim cut Nextracker from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Roth Capital reiterated a "buy" rating and issued a $70.00 price objective (up previously from $55.00) on shares of Nextracker in a report on Thursday, May 15th. BMO Capital Markets increased their price objective on Nextracker from $51.00 to $59.00 and gave the stock a "market perform" rating in a report on Thursday, May 15th. Finally, Bank of America upped their target price on Nextracker from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Nextracker has a consensus rating of "Moderate Buy" and an average target price of $61.57.
View Our Latest Stock Report on NXT
Insider Activity at Nextracker
In related news, President Howard Wenger sold 5,216 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $65.00, for a total value of $339,040.00. Following the completion of the sale, the president directly owned 419,959 shares of the company's stock, valued at $27,297,335. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Nicholas Marco Miller sold 5,588 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $57.32, for a total transaction of $320,304.16. Following the completion of the sale, the chief operating officer directly owned 170,000 shares of the company's stock, valued at approximately $9,744,400. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,476 shares of company stock valued at $12,169,880 in the last ninety days. 0.56% of the stock is currently owned by insiders.
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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