Nextracker Inc. (NASDAQ:NXT - Get Free Report) insider Leah Schlesinger sold 2,149 shares of the company's stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total transaction of $111,554.59. Following the transaction, the insider now owns 11,910 shares in the company, valued at approximately $618,248.10. The sale was disclosed in a filing with the SEC, which is available at this link.
Nextracker Stock Down 0.5 %
NASDAQ NXT traded down $0.27 on Wednesday, hitting $52.07. 2,756,088 shares of the stock were exchanged, compared to its average volume of 4,418,142. Nextracker Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $62.14. The company has a market cap of $7.11 billion, a PE ratio of 27.84, a PEG ratio of 0.63 and a beta of 1.94. The company has a 50-day moving average price of $56.46 and a 200-day moving average price of $45.93.
Nextracker (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.37 by $0.51. Nextracker had a net margin of 4.48% and a negative return on equity of 5.98%. The company had revenue of $710.43 million during the quarter, compared to analysts' expectations of $615.53 million. As a group, equities research analysts predict that Nextracker Inc. will post 2.35 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. boosted its holdings in shares of Nextracker by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 7,144 shares of the company's stock valued at $335,000 after buying an additional 273 shares in the last quarter. Keybank National Association OH raised its position in Nextracker by 7.1% in the 3rd quarter. Keybank National Association OH now owns 6,825 shares of the company's stock valued at $274,000 after purchasing an additional 455 shares during the last quarter. Principal Financial Group Inc. raised its position in Nextracker by 10.0% in the 4th quarter. Principal Financial Group Inc. now owns 5,700 shares of the company's stock valued at $267,000 after purchasing an additional 516 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Nextracker by 3.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company's stock valued at $652,000 after purchasing an additional 541 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Nextracker by 3.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 19,339 shares of the company's stock valued at $777,000 after purchasing an additional 624 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on NXT shares. Cantor Fitzgerald increased their price objective on shares of Nextracker from $52.00 to $62.00 and gave the stock an "overweight" rating in a research note on Thursday, February 1st. Mizuho lifted their target price on shares of Nextracker from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. Roth Mkm lifted their target price on shares of Nextracker from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their price target on shares of Nextracker from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company boosted their price target on shares of Nextracker from $57.00 to $68.00 and gave the company an "overweight" rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.70.
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About Nextracker
(
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Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; 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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