Fuller & Thaler Asset Management Inc. Acquires 70,663 Shares of Nextracker Inc. (NASDAQ:NXT)

Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 773,183 shares of the company's stock after purchasing an additional 70,663 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 0.53% of Nextracker worth $28,244,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NXT. Allworth Financial LP boosted its stake in Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock valued at $29,000 after purchasing an additional 276 shares during the period. Sterling Capital Management LLC boosted its position in Nextracker by 448.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after acquiring an additional 1,055 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Nextracker during the fourth quarter valued at $48,000. Principal Securities Inc. raised its stake in shares of Nextracker by 41.8% during the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after purchasing an additional 410 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Nextracker by 92.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock worth $66,000 after purchasing an additional 873 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextracker Price Performance

Nextracker stock traded down $2.97 during midday trading on Wednesday, reaching $40.10. The company's stock had a trading volume of 1,573,612 shares, compared to its average volume of 2,968,485. The stock has a market cap of $5.84 billion, a PE ratio of 10.20 and a beta of 2.02. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $42.44 and a 200-day moving average price of $40.72. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31.

Nextracker (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. On average, sell-side analysts predict that Nextracker Inc. will post 3.29 EPS for the current year.

Insider Activity at Nextracker

In related news, insider Bruce Ledesma sold 9,891 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $46.05, for a total transaction of $455,480.55. Following the completion of the sale, the insider now owns 132,374 shares of the company's stock, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler set a $49.00 price target on shares of Nextracker in a research note on Monday, April 21st. JPMorgan Chase & Co. increased their price objective on Nextracker from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Robert W. Baird decreased their target price on Nextracker from $59.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Guggenheim raised their price target on shares of Nextracker from $50.00 to $62.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, UBS Group boosted their price objective on Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.70.

About Nextracker

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.