Nextracker (NASDAQ:NXT – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at Truist Financial in a report released on Wednesday,Benzinga reports. They currently have a $56.00 price target on the stock, up from their previous price target of $54.00. Truist Financial’s price objective points to a potential upside of 10.61% from the stock’s previous close.
NXT has been the subject of a number of other research reports. Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $47.00 to $60.00 in a research report on Wednesday. Robert W. Baird reduced their target price on Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Guggenheim reiterated a “buy” rating and issued a $55.00 price target on shares of Nextracker in a report on Friday, November 22nd. Wells Fargo & Company decreased their price objective on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.50.
Read Our Latest Research Report on Nextracker
Nextracker Stock Up 2.8 %
Nextracker (NASDAQ:NXT – Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 17.26% and a return on equity of 559.17%. As a group, research analysts forecast that Nextracker will post 2.7 EPS for the current fiscal year.
Insider Buying and Selling at Nextracker
In other news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares of the company’s stock, valued at $9,421,425. The trade was a 2.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.
Institutional Investors Weigh In On Nextracker
Several institutional investors have recently added to or reduced their stakes in NXT. Allworth Financial LP boosted 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 purchasing an additional 276 shares during the last quarter. Principal Securities Inc. boosted its holdings 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 last quarter. Figure 8 Investment Strategies LLC bought a new position in shares of Nextracker in the fourth quarter valued at $393,000. Vontobel Holding Ltd. acquired a new position in Nextracker during the fourth quarter worth $1,582,000. Finally, Renaissance Capital LLC raised its position in Nextracker by 3.5% during the fourth quarter. Renaissance Capital LLC now owns 159,779 shares of the company’s stock worth $5,837,000 after acquiring an additional 5,390 shares in the last quarter. 67.41% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than Nextracker
- Retail Stocks Investing, Explained
- How Growth Investors Find High-Growth Stocks and Maximize Returns
- Why Are These Companies Considered Blue Chips?
- Meta’s AI & Smart Glasses Could Drive 20%+ Upside in 2025
- What Are Dividend Challengers?
- NVIDIA’s Slide Continues: Can Retail Investors Stop the Fall?
Receive News & Ratings for Nextracker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextracker and related companies with MarketBeat.com's FREE daily email newsletter.