Moody Aldrich Partners LLC Has $6.30 Million Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Moody Aldrich Partners LLC raised its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 117.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 134,357 shares of the company's stock after acquiring an additional 72,441 shares during the period. Nextracker accounts for about 1.1% of Moody Aldrich Partners LLC's holdings, making the stock its 29th biggest position. Moody Aldrich Partners LLC owned 0.08% of Nextracker worth $6,295,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. California State Teachers Retirement System acquired a new stake in shares of Nextracker during the 1st quarter worth $416,000. Bank of New York Mellon Corp acquired a new stake in shares of Nextracker during the 1st quarter worth $3,277,000. Tower Research Capital LLC TRC acquired a new stake in shares of Nextracker during the 1st quarter worth $55,000. Rhumbline Advisers acquired a new stake in shares of Nextracker during the 1st quarter worth $1,326,000. Finally, FMR LLC acquired a new stake in shares of Nextracker during the 1st quarter worth $27,287,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Stock Performance

Shares of NXT stock traded up $0.20 during trading hours on Tuesday, hitting $51.19. 1,949,768 shares of the company were exchanged, compared to its average volume of 4,311,416. Nextracker Inc. has a one year low of $29.28 and a one year high of $62.14. The business's 50-day simple moving average is $57.11 and its two-hundred day simple moving average is $46.27. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 0.57 and a beta of 1.94.

Nextracker (NASDAQ:NXT - Get Free Report) last issued 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 business had revenue of $710.43 million for the quarter, compared to analysts' expectations of $615.53 million. As a group, analysts anticipate that Nextracker Inc. will post 2.35 EPS for the current fiscal year.

Insider Transactions at Nextracker

In other Nextracker news, COO Nicholas Marco Miller sold 8,355 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total value of $440,057.85. Following the transaction, the chief operating officer now owns 11,114 shares of the company's stock, valued at $585,374.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Nextracker news, COO Nicholas Marco Miller sold 8,355 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total value of $440,057.85. Following the transaction, the chief operating officer now owns 11,114 shares of the company's stock, valued at $585,374.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leah Schlesinger sold 2,149 shares of the firm's stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $51.91, for a total transaction of $111,554.59. Following the completion of the transaction, the insider now directly owns 11,910 shares in the company, valued at approximately $618,248.10. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays downgraded Nextracker from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $55.00 to $63.00 in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price target on Nextracker from $73.00 to $67.00 and set an "overweight" rating for the company in a report on Thursday, February 29th. Truist Financial increased their price target on Nextracker from $52.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, January 23rd. The Goldman Sachs Group increased their price target on Nextracker from $62.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Finally, Piper Sandler increased their price target on Nextracker from $60.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.70.

Nextracker Profile

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.