Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Royce & Associates LP

Royce & Associates LP lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 171.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 240,840 shares of the company’s stock after acquiring an additional 151,999 shares during the period. Royce & Associates LP owned 0.17% of Nextracker worth $8,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in Nextracker by 17.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,895 shares of the company’s stock valued at $325,000 after acquiring an additional 1,334 shares during the last quarter. Atala Financial Inc acquired a new position in shares of Nextracker in the 4th quarter valued at $1,001,000. LBP AM SA lifted its stake in shares of Nextracker by 57.2% in the 4th quarter. LBP AM SA now owns 52,359 shares of the company’s stock valued at $1,913,000 after purchasing an additional 19,059 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Nextracker by 30.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,623 shares of the company’s stock worth $388,000 after purchasing an additional 2,483 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Nextracker by 16.2% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 1,141,901 shares of the company’s stock valued at $42,193,000 after buying an additional 159,326 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NXT shares. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Guggenheim raised their price target on Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Citigroup cut their price objective on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Northland Securities restated an “outperform” rating and set a $55.00 target price (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. Finally, BNP Paribas upgraded shares of Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Nextracker has an average rating of “Moderate Buy” and a consensus price target of $56.43.

Insider Buying and Selling

In related news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bruce Ledesma sold 9,891 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 25,758 shares of company stock worth $1,217,520 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Nextracker Stock Performance

Shares of NXT stock opened at $44.48 on Wednesday. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. 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 firm has a market cap of $6.48 billion, a price-to-earnings ratio of 11.32 and a beta of 2.24. The stock’s 50-day moving average is $44.83 and its two-hundred day moving average is $39.67.

Nextracker (NASDAQ:NXT) last released its quarterly earnings results 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%. Analysts predict that Nextracker Inc. will post 3.29 earnings per share for the current 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.