New York State Common Retirement Fund Has $962,000 Stock Position in Nextracker Inc. (NASDAQ:NXT)

New York State Common Retirement Fund cut its stake in Nextracker Inc. (NASDAQ:NXT - Free Report) by 71.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,534 shares of the company's stock after selling 52,512 shares during the period. New York State Common Retirement Fund's holdings in Nextracker were worth $962,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new position in shares of Nextracker in the 3rd quarter valued at $42,000. Global Retirement Partners LLC purchased a new stake in shares of Nextracker in the fourth quarter valued at about $63,000. Trium Capital LLP acquired a new stake in shares of Nextracker during the third quarter worth about $101,000. Strs Ohio purchased a new position in shares of Nextracker during the third quarter worth about $104,000. Finally, New York State Teachers Retirement System acquired a new position in Nextracker in the 3rd quarter valued at about $155,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Nextracker Price Performance

NXT stock traded up $0.82 during trading on Monday, reaching $43.07. 3,832,896 shares of the stock traded hands, compared to its average volume of 4,040,986. The business's 50 day moving average price is $51.20 and its 200-day moving average price is $47.59. The firm has a market capitalization of $5.88 billion, a PE ratio of 23.07, a P/E/G ratio of 0.37 and a beta of 2.42. Nextracker Inc. has a 52-week low of $32.14 and a 52-week high of $62.14.

Insider Transactions at Nextracker

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America lifted their target price on Nextracker from $53.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Robert W. Baird began coverage on shares of Nextracker in a research note on Thursday, March 21st. They issued an "outperform" rating and a $71.00 target price for the company. Cantor Fitzgerald boosted their price target 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. Citigroup raised their price objective on shares of Nextracker from $45.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on Nextracker from $73.00 to $67.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.17.

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.