Quaero Capital S.A. Sells 13,410 Shares of Nextracker Inc. (NASDAQ:NXT)

Quaero Capital S.A. lowered its position in Nextracker Inc. (NASDAQ:NXT) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,862 shares of the company’s stock after selling 13,410 shares during the period. Quaero Capital S.A.’s holdings in Nextracker were worth $1,310,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quarry LP lifted its position 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 acquiring an additional 426 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after purchasing an additional 549 shares during the period. Nisa Investment Advisors LLC grew its stake in Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after buying an additional 516 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Nextracker in the 3rd quarter valued at about $74,000. Finally, Arcadia Investment Management Corp MI acquired a new position in Nextracker in the 3rd quarter valued at about $75,000. Institutional investors own 67.41% of the company’s stock.

Insider Activity at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares in the company, valued at $9,421,425. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,758 shares of company stock valued at $1,217,520. 0.27% of the stock is owned by insiders.

Analyst Ratings Changes

NXT has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. TD Cowen initiated coverage on shares of Nextracker in a research note on Thursday, December 19th. They issued a “hold” rating and a $41.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial reissued a “buy” rating and set a $56.00 target price (up from $54.00) on shares of Nextracker in a research note on Wednesday, January 29th. Finally, Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.

Nextracker Stock Performance

Shares of Nextracker stock opened at $47.30 on Friday. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The company has a market capitalization of $6.89 billion, a PE ratio of 12.04 and a beta of 2.14. 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 has a 50-day simple moving average of $41.10 and a two-hundred day simple moving average of $39.07.

Nextracker (NASDAQ:NXT) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. Research analysts expect that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Nextracker 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.