Handelsbanken Fonder AB Has $90.32 Million Holdings in Nextracker Inc. (NASDAQ:NXT)

Handelsbanken Fonder AB raised its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,927,825 shares of the company's stock after purchasing an additional 446,034 shares during the period. Handelsbanken Fonder AB owned about 1.20% of Nextracker worth $90,319,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NXT. Tucker Asset Management LLC purchased a new position in Nextracker during the third quarter worth approximately $42,000. Global Retirement Partners LLC purchased a new position in Nextracker during the fourth quarter worth approximately $63,000. Tower Research Capital LLC TRC purchased a new stake in Nextracker in the first quarter valued at $55,000. Trium Capital LLP purchased a new stake in Nextracker in the third quarter valued at $101,000. Finally, Strs Ohio purchased a new stake in Nextracker in the third quarter valued at $104,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextracker Price Performance

NASDAQ NXT traded down $0.53 on Friday, hitting $44.00. 5,035,984 shares of the company's stock were exchanged, compared to its average volume of 2,945,187. The firm's 50-day moving average price is $55.64 and its two-hundred day moving average price is $46.66. Nextracker Inc. has a fifty-two week low of $29.28 and a fifty-two week high of $62.14. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 0.37 and a beta of 1.94.

Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.51. The business had revenue of $710.43 million for the quarter, compared to analysts' expectations of $615.53 million. Nextracker had a negative return on equity of 5.98% and a net margin of 4.48%. On average, research analysts predict that Nextracker Inc. will post 2.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NXT has been the topic of a number of research analyst reports. Guggenheim initiated coverage on Nextracker in a research report on Thursday, February 8th. They issued a "buy" rating and a $73.00 target price on the stock. Citigroup lifted their price objective on Nextracker from $45.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, January 31st. Cantor Fitzgerald lifted their price objective on Nextracker from $52.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, February 1st. Piper Sandler lowered their target price on Nextracker from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. lowered their target price on Nextracker from $73.00 to $67.00 and set an "overweight" rating for the company in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Nextracker presently has a consensus rating of "Moderate Buy" and an average price target of $59.18.

Insider Buying and Selling at Nextracker

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

Nextracker Company 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.