Raymond James Financial Inc. raised its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 22.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,634 shares of the company's stock after purchasing an additional 28,683 shares during the period. Raymond James Financial Inc. owned 0.11% of Nextracker worth $6,643,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Encompass Capital Advisors LLC purchased a new position in shares of Nextracker during the 4th quarter worth approximately $55,690,000. Nuveen LLC purchased a new position in shares of Nextracker during the 1st quarter worth approximately $40,356,000. Balyasny Asset Management L.P. grew its holdings in shares of Nextracker by 8,408.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 837,067 shares of the company's stock worth $30,578,000 after acquiring an additional 827,229 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Nextracker by 3,773.2% during the 1st quarter. Pacer Advisors Inc. now owns 829,367 shares of the company's stock worth $34,950,000 after acquiring an additional 807,954 shares during the period. Finally, Goodlander Investment Management LLC purchased a new stake in shares of Nextracker in the 4th quarter worth approximately $18,996,000. Institutional investors own 67.41% of the company's stock.
Nextracker Stock Up 3.1%
NXT traded up $2.05 during trading on Thursday, hitting $68.85. The company's stock had a trading volume of 1,624,262 shares, compared to its average volume of 2,363,851. The firm has a market cap of $10.19 billion, a PE ratio of 17.53, a P/E/G ratio of 1.55 and a beta of 2.26. The business's 50 day simple moving average is $62.11 and its 200-day simple moving average is $52.93. Nextracker Inc. has a one year low of $30.93 and a one year high of $70.14.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on NXT shares. Northland Capmk downgraded Nextracker from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Robert W. Baird upped their price target on Nextracker from $67.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Nextracker from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 3rd. Guggenheim upgraded Nextracker from a "neutral" rating to a "buy" rating and set a $74.00 price target on the stock in a research note on Monday, August 18th. Finally, Truist Financial upped their price target on Nextracker from $49.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $65.00.
Get Our Latest Stock Report on Nextracker
Insider Buying and Selling
In other Nextracker news, President Howard Wenger sold 5,703 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the completion of the sale, the president owned 414,256 shares in the company, valued at approximately $28,997,920. This represents a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William D. Watkins sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the director owned 7,666 shares of the company's stock, valued at approximately $435,352.14. The trade was a 56.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,261 shares of company stock valued at $6,181,028 over the last three months. 0.56% of the stock is currently owned by company insiders.
Nextracker Company Profile
(
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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