SIR Capital Management L.P. Has $13.34 Million Holdings in Nextracker Inc. (NASDAQ:NXT)

SIR Capital Management L.P. decreased its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,285 shares of the company's stock after selling 71,562 shares during the period. Nextracker accounts for 1.4% of SIR Capital Management L.P.'s holdings, making the stock its 27th biggest position. SIR Capital Management L.P. owned 0.25% of Nextracker worth $13,344,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in Nextracker by 52.4% during the fourth quarter. Allworth Financial LP now owns 803 shares of the company's stock valued at $29,000 after buying an additional 276 shares during the period. Sterling Capital Management LLC lifted its position in Nextracker by 448.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after buying an additional 1,055 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Nextracker during the 4th quarter valued at about $48,000. Principal Securities Inc. grew its stake in shares of Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after buying an additional 410 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in Nextracker by 92.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock worth $66,000 after acquiring an additional 873 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the firm's 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 $333,630.00. Following the completion of the sale, the president now directly owns 219,389 shares in the company, valued at approximately $12,066,395. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruce Ledesma sold 27,453 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $60.17, for a total value of $1,651,847.01. Following the sale, the insider now owns 120,972 shares of the company's stock, valued at $7,278,885.24. This trade represents a 18.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,320 shares of company stock valued at $2,524,532. 0.27% of the stock is owned by corporate insiders.

Nextracker Price Performance

NXT stock traded down $0.97 during trading on Monday, hitting $58.34. The company had a trading volume of 3,646,252 shares, compared to its average volume of 2,928,915. The business has a 50 day moving average of $43.44 and a 200 day moving average of $42.10. 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 firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 14.84 and a beta of 2.03. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $63.19.

Analyst Ratings Changes

A number of analysts have issued reports on NXT shares. Guggenheim lowered shares of Nextracker from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 14th. Northland Securities reiterated an "outperform" rating and issued a $55.00 target price (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Jefferies Financial Group raised Nextracker from a "hold" rating to a "buy" rating and increased their price target for the company from $46.00 to $56.00 in a research report on Wednesday, January 29th. BMO Capital Markets lifted their price objective on Nextracker from $51.00 to $59.00 and gave the company a "market perform" rating in a research note on Thursday. Finally, Fox Advisors cut shares of Nextracker from an "overweight" rating to an "equal weight" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Nextracker has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

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.