48,754 Shares in Nextracker Inc. (NASDAQ:NXT) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 48,754 shares of the company's stock, valued at approximately $1,781,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP boosted its stake in Nextracker by 52.4% in the fourth 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 holdings in shares of Nextracker by 448.9% in the fourth 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 valued at approximately $48,000. Principal Securities Inc. grew its holdings in shares of Nextracker by 41.8% during 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. Finally, Quadrant Capital Group LLC increased its position in Nextracker by 92.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock worth $66,000 after purchasing an additional 873 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Insider Buying and Selling

In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, the insider now owns 132,374 shares of the company's stock, valued at approximately $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by insiders.

Nextracker Trading Down 2.6 %

Shares of NXT stock traded down $1.08 during trading hours on Monday, hitting $41.12. 1,542,239 shares of the company were exchanged, compared to its average volume of 2,961,395. The company has a 50 day simple moving average of $42.02 and a two-hundred day simple moving average of $40.96. The firm has a market cap of $5.99 billion, a P/E ratio of 10.46 and a beta of 2.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NXT. Barclays decreased their target price on shares of Nextracker from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. BMO Capital Markets boosted their price objective on Nextracker from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group increased their target price on Nextracker from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their price target on Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, UBS Group raised their price objective on shares of Nextracker from $60.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Nextracker has a consensus rating of "Moderate Buy" and an average price target of $55.70.

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.