Graphene Investments SAS Sells 1,200 Shares of Nextracker Inc. (NASDAQ:NXT)

Graphene Investments SAS cut its stake in Nextracker Inc. (NASDAQ:NXT) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,600 shares of the company’s stock after selling 1,200 shares during the period. Graphene Investments SAS’s holdings in Nextracker were worth $2,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its stake in Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after buying an additional 426 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after acquiring an additional 516 shares during the period. HighTower Advisors LLC boosted its position in shares of Nextracker by 1.8% during the 3rd quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock valued at $1,115,000 after acquiring an additional 519 shares in the last quarter. GAMMA Investing LLC increased its stake in Nextracker by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after acquiring an additional 549 shares during the period. Finally, Signaturefd LLC boosted its holdings in Nextracker by 37.8% during the third quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after purchasing an additional 560 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextracker Price Performance

Shares of NXT stock opened at $47.61 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The firm has a fifty day moving average of $40.21 and a 200-day moving average of $39.06. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 12.11 and a beta of 2.13.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share (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%. On average, equities research analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO David P. Bennett sold 9,801 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the transaction, the chief accounting officer now directly owns 124,577 shares of the company’s stock, valued at $6,216,392.30. This represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction that occurred 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 sale, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on NXT. Bank of America decreased their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Robert W. Baird cut their target price on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price target on Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Truist Financial reaffirmed a “buy” rating and issued a $56.00 price target (up from $54.00) on shares of Nextracker in a report on Wednesday, January 29th. Finally, Northland Securities reiterated an “outperform” rating and set a $55.00 target price (up from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

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.