47,100 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Graphene Investments SAS

Graphene Investments SAS purchased a new stake in Nextracker Inc. (NASDAQ:NXT) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 47,100 shares of the company’s stock, valued at approximately $2,650,000.

A number of other large investors also recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new stake in Nextracker in the first quarter valued at approximately $37,000. Toth Financial Advisory Corp acquired a new position in shares of Nextracker in the 1st quarter valued at $38,000. Capital Advisors Ltd. LLC purchased a new stake in shares of Nextracker during the 1st quarter valued at $46,000. Wahed Invest LLC acquired a new stake in shares of Nextracker during the 4th quarter worth $43,000. Finally, Parallel Advisors LLC raised its position in shares of Nextracker by 49.4% in the 4th quarter. Parallel Advisors LLC now owns 2,850 shares of the company’s stock worth $134,000 after buying an additional 942 shares during the period. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Stock Up 4.5 %

Shares of NXT traded up $2.05 during midday trading on Wednesday, hitting $47.37. The company had a trading volume of 3,608,073 shares, compared to its average volume of 4,252,950. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 14.21 and a beta of 2.52. The company’s 50 day moving average price is $50.39 and its 200 day moving average price is $51.18. The company has a quick ratio of 1.76, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. Nextracker Inc. has a 52 week low of $32.14 and a 52 week high of $62.31.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.38. The firm had revenue of $736.52 million for the quarter, compared to analysts’ expectations of $681.03 million. Nextracker had a negative return on equity of 13.70% and a net margin of 12.25%. On average, equities research analysts predict that Nextracker Inc. will post 2.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NXT shares. Scotiabank cut their price objective on Nextracker from $55.00 to $50.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. Susquehanna assumed coverage on shares of Nextracker in a research note on Friday, June 28th. They set a “positive” rating and a $59.00 price objective for the company. Guggenheim dropped their price objective on shares of Nextracker from $73.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Piper Sandler reduced their target price on shares of Nextracker from $66.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Finally, Barclays downgraded Nextracker from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $55.00 to $63.00 in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.54.

Insider Buying and Selling

In related news, insider Bruce Ledesma sold 12,135 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.91, for a total value of $532,847.85. Following the sale, the insider now owns 17,387 shares of the company’s stock, valued at approximately $763,463.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.