National Bank of Canada FI Acquires Shares of 49,166 Nextracker Inc. (NASDAQ:NXT)

National Bank of Canada FI bought a new position in Nextracker Inc. (NASDAQ:NXT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 49,166 shares of the company's stock, valued at approximately $2,303,000.

Other institutional investors also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new stake in Nextracker during the third quarter valued at about $42,000. Global Retirement Partners LLC purchased a new position in shares of Nextracker during the fourth quarter valued at about $63,000. Trium Capital LLP purchased a new position in shares of Nextracker during the third quarter valued at about $101,000. Strs Ohio purchased a new position in shares of Nextracker during the third quarter valued at about $104,000. Finally, New York State Teachers Retirement System purchased a new position in shares of Nextracker during the third quarter valued at about $155,000. 67.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nextracker news, COO Nicholas Marco Miller sold 8,355 shares of Nextracker stock in a transaction on 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 directly owns 11,114 shares of the company's stock, valued at $585,374.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Nicholas Marco Miller sold 8,355 shares of the business'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 sale, the chief operating officer now directly 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 available through this link. Also, insider Leah Schlesinger sold 2,149 shares of the business's stock in a transaction 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 directly owns 11,910 shares in the company, valued at $618,248.10. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Nextracker Stock Performance

NASDAQ:NXT traded down $0.06 during trading hours on Tuesday, reaching $43.01. The company's stock had a trading volume of 5,850,578 shares, compared to its average volume of 4,061,333. The company has a market capitalization of $5.87 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 0.37 and a beta of 2.42. Nextracker Inc. has a 12 month low of $32.14 and a 12 month high of $62.14. The stock has a 50 day moving average price of $50.93 and a two-hundred day moving average price of $47.64.

Analyst Ratings Changes

NXT has been the subject of a number of research analyst reports. Mizuho cut their price objective on Nextracker from $64.00 to $59.00 and set a "buy" rating for the company in a research report on Friday, April 19th. Piper Sandler dropped their price target on Nextracker from $66.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, April 11th. Bank of America lifted their price target on Nextracker from $53.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. Wells Fargo & Company lifted their price target on Nextracker from $57.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group lifted their price target on Nextracker from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat.com, Nextracker currently has a consensus 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.