Vise Technologies Inc. Takes Position in Nextracker Inc. (NASDAQ:NXT)

Vise Technologies Inc. purchased a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,421 shares of the company's stock, valued at approximately $271,000.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock valued at $29,000 after buying an additional 276 shares in the last quarter. Sterling Capital Management LLC lifted its stake 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 valued at $47,000 after purchasing an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of Nextracker in the 4th quarter valued at $47,000. Millstone Evans Group LLC acquired a new position in shares of Nextracker in the 4th quarter valued at $48,000. Finally, Principal Securities Inc. lifted its stake in shares of Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after purchasing an additional 410 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextracker Price Performance

Shares of NXT traded up $1.61 during mid-day trading on Friday, hitting $57.03. The company's stock had a trading volume of 2,248,034 shares, compared to its average volume of 2,881,314. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The firm has a 50-day simple moving average of $45.80 and a 200 day simple moving average of $43.24. The firm has a market capitalization of $8.30 billion, a P/E ratio of 14.51 and a beta of 2.03. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $63.19.

Analyst Upgrades and Downgrades

NXT has been the topic of several recent analyst reports. Truist Financial upped their price target on Nextracker from $49.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. TD Cowen upped their price target on Nextracker from $47.00 to $55.00 and gave the company a "hold" rating in a research note on Thursday, May 15th. Guggenheim lowered Nextracker from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Barclays increased their target price on Nextracker from $58.00 to $64.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company increased their target price on Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nextracker presently has an average rating of "Moderate Buy" and an average price target of $60.00.

Insider Activity

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 stock was sold at an average price of $55.00, for a total transaction of $539,055.00. Following the completion of the transaction, the chief accounting officer now owns 124,615 shares of the company's stock, valued at approximately $6,853,825. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Howard Wenger sold 6,066 shares of the firm's stock in a transaction 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 transaction, the president now directly owns 219,389 shares of the company's stock, valued at $12,066,395. The trade was a 2.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,898 shares of company stock valued at $7,348,516 in the last three months. 0.27% of the stock is currently owned by company insiders.

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.