Raiffeisen Bank International AG Invests $171,000 in Nextracker Inc. (NASDAQ:NXT)

Raiffeisen Bank International AG acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,632 shares of the company's stock, valued at approximately $171,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after acquiring an additional 276 shares during the last quarter. Sterling Capital Management LLC raised its holdings 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 worth $47,000 after acquiring an additional 1,055 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Nextracker in the 4th quarter worth about $48,000. Principal Securities Inc. raised its holdings in shares of Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock worth $51,000 after acquiring an additional 410 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Nextracker by 92.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock worth $66,000 after acquiring an additional 873 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Nextracker Stock Down 3.7%

NXT opened at $59.31 on Monday. The company has a 50 day moving average of $43.44 and a 200 day moving average of $42.10. The company has a market cap of $8.64 billion, a PE ratio of 15.09 and a beta of 2.03. Nextracker Inc. has a 12 month low of $30.93 and a 12 month 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.

Insider Buying and Selling

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $539,055.00. Following the completion of the transaction, the chief accounting officer now directly owns 124,615 shares of the company's stock, valued at $6,853,825. This trade represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Howard Wenger sold 6,066 shares of the firm's 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 completion of the transaction, the president now directly owns 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 43,320 shares of company stock valued at $2,524,532. Company insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NXT shares. Truist Financial upped their target price on shares of Nextracker from $49.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Nextracker from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. 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 research note on Thursday. BMO Capital Markets increased their price objective on shares of Nextracker from $51.00 to $59.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their price objective on shares of Nextracker from $61.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.90.

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.

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