XTX Topco Ltd Takes $237,000 Position in Nextracker Inc. (NASDAQ:NXT)

XTX Topco Ltd purchased a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,498 shares of the company's stock, valued at approximately $237,000.

Other large investors have also made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Nextracker by 259.8% in the third quarter. Barclays PLC now owns 259,800 shares of the company's stock worth $9,737,000 after acquiring an additional 187,598 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Nextracker by 14.9% during the third quarter. Retirement Systems of Alabama now owns 174,244 shares of the company's stock worth $6,531,000 after buying an additional 22,570 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Nextracker during the fourth quarter worth $331,000. Central Pacific Bank Trust Division bought a new position in shares of Nextracker in the 4th quarter valued at $94,000. Finally, Nordea Investment Management AB acquired a new stake in shares of Nextracker during the 4th quarter valued at $5,734,000. Institutional investors and hedge funds own 67.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Nextracker from $54.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. BMO Capital Markets lifted their price target 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. Barclays decreased their price objective on Nextracker from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Susquehanna upped their price target on Nextracker from $50.00 to $54.00 and gave the company a "positive" rating in a research report on Wednesday, January 29th. Finally, Truist Financial lowered their price objective on Nextracker from $56.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Three 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, Nextracker presently has a consensus rating of "Moderate Buy" and an average target price of $55.70.

Nextracker Stock Down 5.7 %

NXT traded down $2.46 during midday trading on Wednesday, reaching $40.61. 3,641,523 shares of the company were exchanged, compared to its average volume of 2,976,508. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The company's fifty day moving average price is $42.44 and its 200 day moving average price is $40.72. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 10.33 and a beta of 2.02.

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

Insider Transactions at Nextracker

In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, the insider now directly owns 132,374 shares of the company's stock, valued at approximately $6,095,822.70. This represents a 6.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company's stock.

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.