Nextracker Inc. $NXT Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its holdings in Nextracker Inc. (NASDAQ:NXT) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,856 shares of the company’s stock after selling 687 shares during the quarter. Yousif Capital Management LLC’s holdings in Nextracker were worth $2,656,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NXT. Northwestern Mutual Wealth Management Co. lifted its position in Nextracker by 703.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after acquiring an additional 577 shares during the period. Summit Securities Group LLC lifted its position in Nextracker by 796.0% during the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after acquiring an additional 804 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Nextracker during the 1st quarter worth about $40,000. Fifth Third Bancorp lifted its position in Nextracker by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 1,204 shares of the company’s stock worth $51,000 after acquiring an additional 260 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Nextracker by 819.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,554 shares of the company’s stock worth $67,000 after acquiring an additional 1,385 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Down 0.6%

Shares of NXT stock opened at $87.06 on Friday. The stock has a market cap of $12.88 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.17 and a beta of 2.27. The business has a 50-day simple moving average of $71.18 and a 200-day simple moving average of $59.52. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $93.90.

Insiders Place Their Bets

In related news, insider Bruce Ledesma sold 6,980 shares of Nextracker stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $56.24, for a total value of $392,555.20. Following the completion of the transaction, the insider owned 195,790 shares in the company, valued at $11,011,229.60. The trade was a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles D. Boynton sold 4,500 shares of Nextracker stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $67.21, for a total value of $302,445.00. Following the completion of the transaction, the chief financial officer owned 295,059 shares of the company’s stock, valued at approximately $19,830,915.39. This represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,400 shares of company stock worth $2,053,385 in the last 90 days. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on NXT. Wall Street Zen raised Nextracker from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Barclays reaffirmed an “overweight” rating and set a $92.00 price target on shares of Nextracker in a research report on Thursday, October 2nd. Wells Fargo & Company lifted their price target on Nextracker from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. TD Cowen boosted their price objective on Nextracker from $55.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. Finally, Mizuho set a $66.00 price objective on Nextracker in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.10.

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.