Lazard Freres Gestion S.A.S. Sells 494,560 Shares of Nextracker Inc. (NASDAQ:NXT)

Lazard Freres Gestion S.A.S. reduced its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 98.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,440 shares of the company’s stock after selling 494,560 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in Nextracker were worth $203,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Nextracker by 73.2% in the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. Hilltop National Bank increased its holdings in shares of Nextracker by 40.6% during the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after buying an additional 343 shares in the last quarter. Arizona State Retirement System increased its holdings in Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock valued at $1,613,000 after purchasing an additional 372 shares during the period. Wedbush Securities Inc. boosted its position in shares of Nextracker by 8.2% during the 2nd quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock valued at $285,000 after purchasing an additional 461 shares in the last quarter. Finally, Graybill Wealth Management LTD. increased its holdings in shares of Nextracker by 1.7% during the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company’s stock valued at $1,391,000 after acquiring an additional 483 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NXT shares. Robert W. Baird reduced their price objective on Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Northland Securities reaffirmed an “outperform” rating and set a $48.00 target price on shares of Nextracker in a report on Tuesday, November 19th. Susquehanna reduced their target price on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Piper Sandler decreased their price objective on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a report on Friday. Finally, Roth Mkm lowered their price objective on Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.30.

Nextracker Price Performance

Shares of NXT traded up $1.55 during mid-day trading on Tuesday, hitting $40.40. The company’s stock had a trading volume of 2,422,168 shares, compared to its average volume of 3,701,037. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The firm has a 50-day simple moving average of $36.60 and a 200 day simple moving average of $43.04. The firm has a market capitalization of $5.88 billion, a P/E ratio of 10.07 and a beta of 2.32. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.

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.