Nomura Holdings Inc. Acquires Shares of 19,024 Nextracker Inc. (NASDAQ:NXT)

Nomura Holdings Inc. bought a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,024 shares of the company's stock, valued at approximately $695,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in NXT. Norges Bank acquired a new position in shares of Nextracker in the 4th quarter valued at approximately $106,166,000. Encompass Capital Advisors LLC acquired a new position in shares of Nextracker in the 4th quarter valued at approximately $55,690,000. Invesco Ltd. raised its position in shares of Nextracker by 52.2% in the 4th quarter. Invesco Ltd. now owns 3,874,875 shares of the company's stock valued at $141,549,000 after buying an additional 1,329,456 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Nextracker by 8,408.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 837,067 shares of the company's stock valued at $30,578,000 after buying an additional 827,229 shares in the last quarter. Finally, Robeco Schweiz AG acquired a new position in Nextracker during the 4th quarter worth approximately $22,112,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NXT shares. Susquehanna upped their price objective on shares of Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Wall Street Zen upgraded shares of Nextracker from a "hold" rating to a "buy" rating in a research report on Thursday. Truist Financial upped their price objective on shares of Nextracker from $49.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Finally, Bank of America upped their price objective on shares of Nextracker from $55.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.00.

Insider Transactions at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $333,630.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $1,651,847.01. Following the transaction, the insider now directly owns 120,972 shares in the company, valued at approximately $7,278,885.24. This represents a 18.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,337 shares of company stock worth $2,693,333 over the last three months. 0.27% of the stock is owned by company insiders.

Nextracker Price Performance

Shares of NXT remained flat at $56.05 during trading hours on Friday. 1,882,388 shares of the stock traded hands, compared to its average volume of 2,912,475. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $63.19. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $44.70 and its 200-day simple moving average is $42.63. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 14.26 and a beta of 2.03.

Nextracker Company 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.