Nextracker (NASDAQ:NXT) Receives "Buy" Rating from Roth Capital

Key Points

• Nextracker's stock has been given a "buy" rating by Roth Capital, with a price target of $80.00, indicating a potential upside of 23.32% from its current price.
• The company's stock has seen a number of ratings adjustments from other analysts, with a consensus target price of $62.52 and a rating of "Moderate Buy".
• Insider transactions revealed company leaders selling shares, with President Howard Wenger selling 5,216 shares for approximately $339,040, indicating a decrease in their ownership positions.

Roth Capital restated their buy rating on shares of Nextracker (NASDAQ:NXT - Free Report) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $80.00 price target on the stock, up from their prior price target of $70.00. Roth Capital also issued estimates for Nextracker's Q1 2027 earnings at $0.90 EPS, Q2 2027 earnings at $0.93 EPS, Q3 2027 earnings at $1.11 EPS and Q4 2027 earnings at $1.12 EPS.

NXT has been the subject of a number of other reports. Wall Street Zen lowered Nextracker from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. BMO Capital Markets upped their price objective on Nextracker from $51.00 to $59.00 and gave the company a "market perform" rating in a research report on Thursday, May 15th. Guggenheim cut Nextracker from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 14th. Bank of America upped their price objective on Nextracker from $55.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Barclays upped their price objective on Nextracker from $58.00 to $64.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Nine research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.95.

Nextracker Price Performance

Shares of Nextracker stock traded down $0.94 on Tuesday, hitting $57.32. 545,860 shares of the company's stock traded hands, compared to its average volume of 2,538,164. Nextracker has a one year low of $30.93 and a one year high of $67.87. The company has a fifty day moving average of $59.93 and a two-hundred day moving average of $50.00. The company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.45 and a beta of 2.25.

Insider Activity

In other Nextracker news, COO Nicholas Marco Miller sold 5,588 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $57.32, for a total value of $320,304.16. Following the completion of the sale, the chief operating officer owned 170,000 shares of the company's stock, valued at $9,744,400. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $539,055.00. Following the transaction, the chief accounting officer directly owned 124,615 shares in the company, valued at approximately $6,853,825. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 210,476 shares of company stock worth $12,169,880 in the last ninety days. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nextracker

Several institutional investors and hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System lifted its stake in shares of Nextracker by 18.2% during the first quarter. New York State Teachers Retirement System now owns 125,005 shares of the company's stock worth $5,268,000 after buying an additional 19,247 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Nextracker during the first quarter worth about $210,000. Allspring Global Investments Holdings LLC increased its stake in shares of Nextracker by 51.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,735 shares of the company's stock worth $850,000 after purchasing an additional 6,693 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Nextracker by 189.8% during the first quarter. GAMMA Investing LLC now owns 2,736 shares of the company's stock worth $115,000 after purchasing an additional 1,792 shares in the last quarter. Finally, KBC Group NV grew its stake in Nextracker by 719.8% during the 1st quarter. KBC Group NV now owns 49,908 shares of the company's stock valued at $2,103,000 after acquiring an additional 43,820 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

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.