Nordea Investment Management AB Purchases 452 Shares of Nextracker Inc. $NXT

Nordea Investment Management AB lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,990 shares of the company’s stock after buying an additional 452 shares during the period. Nordea Investment Management AB owned about 0.12% of Nextracker worth $9,804,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NXT. Farther Finance Advisors LLC boosted its position in shares of Nextracker by 819.5% during the first quarter. Farther Finance Advisors LLC now owns 1,554 shares of the company’s stock valued at $67,000 after buying an additional 1,385 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Nextracker by 189.8% during the first quarter. GAMMA Investing LLC now owns 2,736 shares of the company’s stock valued at $115,000 after buying an additional 1,792 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Nextracker by 27.5% during the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company’s stock valued at $51,000 after buying an additional 260 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Nextracker by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 16,830 shares of the company’s stock valued at $709,000 after buying an additional 440 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH boosted its position in shares of Nextracker by 1.3% during the first quarter. North Point Portfolio Managers Corp OH now owns 170,759 shares of the company’s stock valued at $7,196,000 after buying an additional 2,233 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXT. Wells Fargo & Company lifted their target price on Nextracker from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. UBS Group lifted their price target on Nextracker from $71.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Robert W. Baird lifted their price target on Nextracker from $67.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Northland Securities reiterated a “market perform” rating on shares of Nextracker in a report on Wednesday, July 30th. Finally, Northland Capmk lowered Nextracker from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.10.

Insider Transactions at Nextracker

In other Nextracker news, insider Bruce Ledesma sold 6,980 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $56.24, for a total value of $392,555.20. Following the sale, the insider directly owned 195,790 shares in the company, valued at $11,011,229.60. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction on 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 sale, the chief financial officer owned 295,059 shares in the company, valued at approximately $19,830,915.39. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,400 shares of company stock valued at $2,053,385. Corporate insiders own 0.56% of the company’s stock.

Nextracker Price Performance

Shares of NXT opened at $87.06 on Monday. The firm has a market cap of $12.88 billion, a PE ratio of 23.72, a PEG ratio of 2.16 and a beta of 2.27. The stock’s fifty day moving average price is $71.18 and its two-hundred day moving average price is $59.77. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $93.90.

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.