MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.71 Million Holdings in Nextracker Inc. (NASDAQ:NXT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,309 shares of the company's stock after selling 4,859 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.11% of Nextracker worth $5,710,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allworth Financial LP lifted its position in shares of Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Nextracker by 448.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after purchasing an additional 1,055 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Nextracker in the fourth quarter worth approximately $48,000. Principal Securities Inc. increased its holdings 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. Finally, Quadrant Capital Group LLC increased its holdings in Nextracker by 92.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock worth $66,000 after buying an additional 873 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextracker Stock Down 3.7%

NXT opened at $59.31 on Monday. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $63.19. 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 stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 15.09 and a beta of 2.03. The business has a 50 day moving average of $43.44 and a 200-day moving average of $42.10.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NXT shares. Bank of America increased their price objective on Nextracker from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday. Fox Advisors downgraded Nextracker from an "overweight" rating to an "equal weight" rating in a report on Thursday. Truist Financial increased their price objective on Nextracker from $49.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday. Guggenheim downgraded Nextracker from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Finally, UBS Group increased their price objective on Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Nextracker presently has a consensus rating of "Moderate Buy" and an average target price of $59.90.

Insider Activity

In other news, insider Bruce Ledesma sold 27,453 shares of the stock in a transaction that occurred 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 directly owns 120,972 shares of the company's stock, valued at approximately $7,278,885.24. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $333,630.00. Following the completion of the sale, the president now directly owns 219,389 shares of the company's stock, valued at $12,066,395. This represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,320 shares of company stock valued at $2,524,532. 0.27% of the stock is owned by company insiders.

About Nextracker

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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