Bruce Ledesma Sells 9,891 Shares of Nextracker Inc. (NASDAQ:NXT) Stock

Nextracker Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 9,891 shares of the 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 transaction, the insider now directly owns 132,374 shares in the company, valued at $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Nextracker Stock Up 0.4 %

Shares of NXT opened at $45.31 on Thursday. The stock has a 50 day moving average price of $40.77 and a 200 day moving average price of $38.98. 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 stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 11.53 and a beta of 2.14. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31.

Nextracker (NASDAQ:NXT) last issued its 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 net margin of 20.12% and a return on equity of 41.22%. Equities research analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NXT. Allworth Financial LP increased its holdings in shares of Nextracker by 52.4% in 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. Quarry LP grew its holdings in Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after buying an additional 426 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after acquiring an additional 549 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Nextracker during the 4th quarter worth $48,000. Finally, Principal Securities Inc. grew its holdings in shares of Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after purchasing an additional 410 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. BNP Paribas raised shares of Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Bank of America reduced their price objective on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Northland Securities restated an “outperform” rating and issued a $55.00 target price (up previously from $48.00) on shares of Nextracker in a research note on Wednesday, January 29th. Finally, Robert W. Baird reduced their price target on Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.50.

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.