13,407 Shares in Nextracker Inc. (NASDAQ:NXT) Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV purchased a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,407 shares of the company's stock, valued at approximately $490,000.

Several other institutional investors and hedge funds have also modified their holdings of NXT. Barclays PLC increased its holdings in shares of Nextracker by 259.8% in the 3rd quarter. Barclays PLC now owns 259,800 shares of the company's stock worth $9,737,000 after buying an additional 187,598 shares during the last quarter. Trium Capital LLP increased its holdings in shares of Nextracker by 18.8% in the 4th quarter. Trium Capital LLP now owns 7,666 shares of the company's stock worth $280,000 after buying an additional 1,213 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of Nextracker by 0.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 153,239 shares of the company's stock worth $5,598,000 after buying an additional 1,086 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Nextracker in the 4th quarter worth about $10,228,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company's stock worth $68,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

Insider Activity

In related news, CAO David P. Bennett sold 9,801 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were 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 $6,853,825. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $333,630.00. Following the transaction, the president now directly owns 219,389 shares of the company's stock, valued at approximately $12,066,395. This trade represents a 2.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,320 shares of company stock worth $2,524,532. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on NXT. Bank of America boosted their target price on shares of Nextracker from $55.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday. BNP Paribas raised shares of Nextracker to a "strong-buy" rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Barclays increased their price objective on shares of Nextracker from $58.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Northland Securities reissued an "outperform" rating and issued a $55.00 price objective (up from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.90.

Nextracker Stock Down 3.7%

Shares of NASDAQ NXT traded down $2.28 during midday trading on Friday, reaching $59.31. 4,314,597 shares of the company's stock traded hands, compared to its average volume of 2,926,032. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The stock's 50 day simple moving average is $43.44 and its 200-day simple moving average is $42.10. Nextracker Inc. has a one year low of $30.93 and a one year high of $63.19. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 15.09 and a beta of 2.03.

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.