Nomura Holdings Inc. Invests $695,000 in Nextracker Inc. (NASDAQ:NXT)

Nomura Holdings Inc. bought a new stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 19,024 shares of the company's stock, valued at approximately $695,000.

A number of other institutional investors have also modified their holdings of NXT. Norges Bank acquired a new position in Nextracker during the 4th quarter valued at about $106,166,000. Encompass Capital Advisors LLC acquired a new position in shares of Nextracker during the fourth quarter worth approximately $55,690,000. Invesco Ltd. boosted its position in shares of Nextracker by 52.2% during the fourth quarter. Invesco Ltd. now owns 3,874,875 shares of the company's stock worth $141,549,000 after buying an additional 1,329,456 shares during the period. Balyasny Asset Management L.P. grew its holdings in Nextracker by 8,408.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 837,067 shares of the company's stock worth $30,578,000 after buying an additional 827,229 shares in the last quarter. Finally, Robeco Schweiz AG acquired a new stake in Nextracker in the 4th quarter valued at approximately $22,112,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Insider Buying and Selling

In other Nextracker news, President Howard Wenger sold 6,066 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was 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 owns 219,389 shares of the company's stock, valued at $12,066,395. The trade was a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Ledesma sold 27,453 shares of the company's stock in a transaction dated 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 sale, the insider now owns 120,972 shares of the company's stock, valued at approximately $7,278,885.24. This trade represents a 18.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,337 shares of company stock worth $2,693,333. Insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NXT. TD Cowen increased their price target on Nextracker from $47.00 to $55.00 and gave the stock a "hold" rating in a research note on Thursday, May 15th. Guggenheim downgraded shares of Nextracker from a "buy" rating to a "neutral" rating in a report on Wednesday, May 14th. Barclays raised their target price on shares of Nextracker from $58.00 to $64.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank of Canada began coverage on shares of Nextracker in a research report on Monday, March 17th. They set an "outperform" rating and a $55.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Nextracker from $55.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Nextracker presently has an average rating of "Moderate Buy" and an average target price of $60.00.

Nextracker Price Performance

Shares of NXT remained flat at $56.05 during midday trading on Monday. The stock had a trading volume of 1,882,388 shares, compared to its average volume of 2,902,625. The firm has a market cap of $8.16 billion, a P/E ratio of 14.26 and a beta of 2.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $63.19. The business has a 50-day simple moving average of $44.70 and a 200 day simple moving average of $42.65.

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.