7,421 Shares in Nextracker Inc. (NASDAQ:NXT) Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,421 shares of the company's stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its position in shares of Nextracker by 52.4% during the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after buying an additional 276 shares during the period. Sterling Capital Management LLC raised its position in shares of Nextracker by 448.9% during 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 during the period. Virtus Fund Advisers LLC acquired a new position in Nextracker during the fourth quarter valued at $47,000. Millstone Evans Group LLC acquired a new position in Nextracker during the fourth quarter valued at $48,000. Finally, Principal Securities Inc. grew its stake in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after purchasing an additional 410 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Nextracker Stock Performance

Nextracker stock traded down $0.19 during midday trading on Thursday, reaching $55.42. 1,317,194 shares of the company's stock were exchanged, compared to its average volume of 2,881,787. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $63.19. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 14.10 and a beta of 2.03. The stock's 50-day simple moving average is $45.36 and its 200 day simple moving average is $42.94.

Insider Buying and Selling

In related news, President Howard Wenger sold 6,066 shares of the business's stock in a transaction that occurred on 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 directly owns 219,389 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, insider Bruce Ledesma sold 3,017 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $55.95, for a total value of $168,801.15. Following the completion of the sale, the insider now owns 110,564 shares of the company's stock, valued at approximately $6,186,055.80. This trade represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,337 shares of company stock worth $2,693,333. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Roth Capital reiterated a "buy" rating and set a $70.00 price target (up previously from $55.00) on shares of Nextracker in a research note on Thursday, May 15th. JPMorgan Chase & Co. increased their price objective on Nextracker from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded Nextracker from a "hold" rating to a "buy" rating and raised their price target for the stock from $46.00 to $56.00 in a research report on Wednesday, January 29th. Guggenheim downgraded Nextracker from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Finally, Mizuho set a $60.00 price objective on Nextracker in a research note on Thursday, May 15th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Nextracker presently has an average rating of "Moderate Buy" and an average target price of $60.00.

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.