Schonfeld Strategic Advisors LLC purchased a new position in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,105 shares of the company's stock, valued at approximately $807,000.
Several other large investors also recently added to or reduced their stakes in NXT. AQR Capital Management LLC increased its stake in Nextracker by 647.1% in the fourth quarter. AQR Capital Management LLC now owns 133,867 shares of the company's stock worth $4,890,000 after purchasing an additional 115,948 shares during the period. Electron Capital Partners LLC boosted its holdings in shares of Nextracker by 46.6% in the 4th quarter. Electron Capital Partners LLC now owns 27,490 shares of the company's stock valued at $1,004,000 after buying an additional 8,742 shares in the last quarter. Northern Trust Corp grew its position in shares of Nextracker by 10.5% in the 4th quarter. Northern Trust Corp now owns 1,917,024 shares of the company's stock worth $70,029,000 after buying an additional 181,741 shares during the last quarter. Earnest Partners LLC raised its stake in shares of Nextracker by 57.9% during the 4th quarter. Earnest Partners LLC now owns 1,254,490 shares of the company's stock worth $45,827,000 after acquiring an additional 459,879 shares in the last quarter. Finally, Boothbay Fund Management LLC lifted its position in Nextracker by 256.1% during the fourth quarter. Boothbay Fund Management LLC now owns 29,042 shares of the company's stock valued at $1,061,000 after acquiring an additional 20,887 shares during the last quarter. 67.41% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on NXT shares. Truist Financial cut their price target on shares of Nextracker from $56.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Northland Securities reaffirmed an "outperform" rating and set a $55.00 target price (up from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Jefferies Financial Group raised Nextracker from a "hold" rating to a "buy" rating and raised their price target for the stock from $46.00 to $56.00 in a report on Wednesday, January 29th. Barclays cut their price objective on shares of Nextracker from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler set a $49.00 target price on shares of Nextracker in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.70.
View Our Latest Stock Analysis on Nextracker
Insider Activity at Nextracker
In other news, insider Bruce Ledesma sold 9,891 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $46.05, for a total transaction of $455,480.55. Following the sale, the insider now directly owns 132,374 shares in the company, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.
Nextracker Stock Performance
Shares of NASDAQ NXT traded up $1.91 during midday trading on Friday, reaching $46.51. 2,072,412 shares of the stock were exchanged, compared to its average volume of 2,940,491. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 11.83 and a beta of 2.03. The firm has a 50-day simple moving average of $42.09 and a two-hundred day simple moving average of $41.24. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.
Nextracker Profile
(
Free Report)
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.
Recommended Stories
Before you consider Nextracker, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nextracker wasn't on the list.
While Nextracker currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
