Altshuler Shaham Ltd Takes Position in Nextracker Inc. (NASDAQ:NXT)

Altshuler Shaham Ltd bought a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,850 shares of the company’s stock, valued at approximately $68,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP raised its holdings in shares of Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Nextracker by 448.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock valued at $47,000 after buying an additional 1,055 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of Nextracker in the fourth quarter valued at $48,000. Principal Securities Inc. lifted its position in shares of Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after acquiring an additional 410 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Nextracker by 92.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company’s stock valued at $66,000 after purchasing an additional 873 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nextracker

In other news, insider Bruce Ledesma sold 9,891 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the sale, the insider now owns 132,374 shares in the company, valued at approximately $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total transaction of $489,069.90. Following the transaction, the chief accounting officer now owns 124,577 shares of the company’s stock, valued at approximately $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Nextracker Stock Up 1.5 %

NXT opened at $40.30 on Friday. Nextracker Inc. has a twelve month low of $30.93 and a twelve month 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 business has a 50 day moving average price of $43.32 and a 200 day moving average price of $40.37. The firm has a market cap of $5.87 billion, a P/E ratio of 10.25 and a beta of 2.02.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Guggenheim raised their price objective on shares of Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Northland Securities reaffirmed an “outperform” rating and issued a $55.00 target price (up previously from $48.00) on shares of Nextracker in a research report on Wednesday, January 29th. UBS Group upped their price target on Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Susquehanna raised their price objective on Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Finally, BMO Capital Markets upped their target price on Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.64.

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.