Howard Wenger Sells 5,217 Shares of Nextracker (NASDAQ:NXT) Stock

Key Points

• Howard Wenger, President of Nextracker, sold 5,217 shares of the company's stock on September 29th for a total of $391,275, decreasing his ownership by 1.26% to 409,039 shares valued at approximately $30.7 million.
• Nextracker's stock price is currently around $73.99 after a recent decline of 2.8%, with a 1-year high of $77.79 and a low of $30.93.
• Institutional investors have significantly increased their stakes in Nextracker, with notable increases from firms like Cullen Frost Bankers and Northwestern Mutual Wealth Management, indicating growing confidence in the stock.

Nextracker Inc. (NASDAQ:NXT - Get Free Report) President Howard Wenger sold 5,217 shares of Nextracker stock in a transaction on Monday, September 29th. The stock was sold at an average price of $75.00, for a total transaction of $391,275.00. Following the sale, the president owned 409,039 shares of the company's stock, valued at $30,677,925. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Howard Wenger also recently made the following trade(s):

• On Tuesday, August 19th, Howard Wenger sold 5,703 shares of Nextracker stock. The stock was sold at an average price of $70.00, for a total transaction of $399,210.00.
• On Thursday, July 3rd, Howard Wenger sold 5,216 shares of Nextracker stock. The stock was sold at an average price of $65.00, for a total transaction of $339,040.00.

Nextracker Trading Down 2.8%

Shares of NASDAQ:NXT traded down $2.14 on Tuesday, hitting $73.99. 1,927,212 shares of the company were exchanged, compared to its average volume of 2,479,067. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $77.79. The stock's 50 day moving average price is $64.93 and its 200 day moving average price is $56.03. The firm has a market capitalization of $10.95 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.70 and a beta of 2.26.

Institutional Investors Weigh In On Nextracker

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. increased its stake in Nextracker by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company's stock worth $32,000 after buying an additional 324 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Nextracker by 703.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company's stock worth $28,000 after buying an additional 577 shares during the period. Hantz Financial Services Inc. increased its stake in Nextracker by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company's stock worth $45,000 after buying an additional 782 shares during the period. MAI Capital Management increased its stake in Nextracker by 309.4% during the 2nd quarter. MAI Capital Management now owns 831 shares of the company's stock worth $45,000 after buying an additional 628 shares during the period. Finally, Summit Securities Group LLC increased its stake in Nextracker by 796.0% during the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company's stock worth $38,000 after buying an additional 804 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NXT has been the subject of several recent research reports. Zacks Research raised shares of Nextracker to a "hold" rating in a report on Tuesday, August 12th. Barclays reissued an "overweight" rating and set a $69.00 target price (up previously from $64.00) on shares of Nextracker in a report on Thursday, July 31st. Mizuho set a $66.00 target price on shares of Nextracker in a report on Wednesday, July 30th. Susquehanna raised their target price on shares of Nextracker from $66.00 to $76.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Finally, Cowen reissued a "hold" rating on shares of Nextracker in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Nextracker currently has an average rating of "Moderate Buy" and an average price target of $66.95.

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.

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