Arkadios Wealth Advisors Buys New Holdings in Nextracker Inc. $NXT

Arkadios Wealth Advisors bought a new stake in shares of Nextracker Inc. (NASDAQ:NXT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,347 shares of the company’s stock, valued at approximately $1,269,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in Nextracker by 56.5% during the 1st quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock valued at $220,722,000 after purchasing an additional 1,890,445 shares during the period. Encompass Capital Advisors LLC grew its holdings in Nextracker by 72.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock valued at $110,833,000 after buying an additional 1,105,617 shares in the last quarter. Earnest Partners LLC grew its holdings in Nextracker by 4.4% during the 1st quarter. Earnest Partners LLC now owns 1,309,424 shares of the company’s stock valued at $55,179,000 after buying an additional 54,934 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Nextracker by 2.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,243,151 shares of the company’s stock valued at $52,386,000 after buying an additional 33,537 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Nextracker during the 2nd quarter valued at approximately $58,122,000. Institutional investors own 67.41% of the company’s stock.

Insiders Place Their Bets

In related news, President Howard Wenger sold 5,703 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total transaction of $399,210.00. Following the completion of the transaction, the president owned 414,256 shares in the company, valued at $28,997,920. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the transaction, the director owned 7,666 shares of the company’s stock, valued at approximately $435,352.14. The trade was a 56.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 32,400 shares of company stock worth $2,053,385 in the last 90 days. 0.56% of the stock is owned by insiders.

Nextracker Stock Performance

Shares of Nextracker stock opened at $101.22 on Friday. The stock has a market cap of $14.98 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.52 and a beta of 2.27. The stock has a 50 day moving average price of $78.02 and a 200-day moving average price of $63.72. Nextracker Inc. has a one year low of $33.29 and a one year high of $104.41.

Analyst Ratings Changes

NXT has been the subject of several research analyst reports. Royal Bank Of Canada raised their price target on Nextracker from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Guggenheim set a $74.00 price target on Nextracker in a report on Wednesday, October 22nd. Cowen restated a “hold” rating on shares of Nextracker in a report on Friday, October 24th. Barclays raised their price target on Nextracker from $92.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Needham & Company LLC assumed coverage on Nextracker in a report on Wednesday, October 22nd. They set a “buy” rating and a $102.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nextracker currently has a consensus rating of “Moderate Buy” and an average target price of $94.05.

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.