Stifel Financial Corp Has $769,000 Stock Position in Nextracker Inc. (NASDAQ:NXT)

Stifel Financial Corp cut its position in Nextracker Inc. (NASDAQ:NXT - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,038 shares of the company's stock after selling 9,891 shares during the period. Stifel Financial Corp's holdings in Nextracker were worth $769,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NXT. JPMorgan Chase & Co. increased their price target on Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. BMO Capital Markets raised their target price on shares of Nextracker from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, January 29th. Truist Financial reduced their price target on shares of Nextracker from $56.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, April 17th. UBS Group raised their price objective on shares of Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Finally, Northland Securities reaffirmed an "outperform" rating and issued a $55.00 price objective (up from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.70.

Insider Activity at Nextracker

In other news, insider Bruce Ledesma sold 9,891 shares of the business'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 in the company, valued at $6,095,822.70. The trade was a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Nextracker Price Performance

Shares of NASDAQ NXT opened at $46.51 on Friday. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The company has a market cap of $6.77 billion, a PE ratio of 11.83 and a beta of 2.03. The business's 50 day moving average price is $42.09 and its two-hundred day moving average price is $41.24. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10.

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.

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