Nextracker Inc. (NASDAQ:NXT) President Howard Wenger Sells 5,216 Shares

Nextracker Inc. (NASDAQ:NXT - Get Free Report) President Howard Wenger sold 5,216 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $65.00, for a total value of $339,040.00. Following the completion of the transaction, the president directly owned 419,959 shares of the company's stock, valued at approximately $27,297,335. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Howard Wenger also recently made the following trade(s):

• On Tuesday, May 13th, Howard Wenger sold 6,066 shares of Nextracker stock. The stock was sold at an average price of $55.00, for a total value of $333,630.00.

Nextracker Stock Performance

NXT traded up $5.23 during midday trading on Friday, reaching $66.27. 2,919,996 shares of the company were exchanged, compared to its average volume of 2,679,095. Nextracker Inc. has a one year low of $30.93 and a one year high of $66.54. The stock has a market capitalization of $9.69 billion, a P/E ratio of 19.10, a PEG ratio of 1.71 and a beta of 2.25. The stock's 50-day simple moving average is $55.04 and its 200 day simple moving average is $47.02.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen upgraded Nextracker from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Susquehanna increased their price objective on Nextracker from $54.00 to $66.00 and gave the stock a "positive" rating in a research note on Thursday, May 15th. Wells Fargo & Company increased their price objective on Nextracker from $69.00 to $71.00 and gave the stock an "overweight" rating in a research note on Monday, May 19th. Mizuho raised their target price on Nextracker from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Finally, Guggenheim lowered Nextracker from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.33.

Hedge Funds Weigh In On Nextracker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flputnam Investment Management Co. lifted its holdings in shares of Nextracker by 2.4% during the 1st quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company's stock valued at $363,000 after purchasing an additional 201 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of Nextracker by 0.4% during the 4th quarter. Shell Asset Management Co. now owns 57,329 shares of the company's stock valued at $2,094,000 after purchasing an additional 228 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Nextracker by 10.2% during the 1st quarter. Signaturefd LLC now owns 2,583 shares of the company's stock valued at $109,000 after purchasing an additional 239 shares in the last quarter. Trust Investment Advisors lifted its holdings in shares of Nextracker by 2.8% during the 1st quarter. Trust Investment Advisors now owns 9,609 shares of the company's stock valued at $405,000 after purchasing an additional 258 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Nextracker by 27.5% in the 1st quarter. Fifth Third Bancorp now owns 1,204 shares of the company's stock valued at $51,000 after acquiring an additional 260 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.