Clark Estates Inc. NY Sells 22,382 Shares of Nextracker Inc. (NASDAQ:NXT)

Clark Estates Inc. NY decreased its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 27.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,618 shares of the company’s stock after selling 22,382 shares during the quarter. Nextracker comprises about 0.5% of Clark Estates Inc. NY’s portfolio, making the stock its 27th largest holding. Clark Estates Inc. NY’s holdings in Nextracker were worth $2,470,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NXT. Sterling Capital Management LLC lifted its position in Nextracker by 448.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock valued at $47,000 after purchasing an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC bought a new position in Nextracker during the fourth quarter valued at $47,000. Fifth Third Bancorp lifted its position in 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 purchasing an additional 260 shares during the last quarter. UMB Bank n.a. lifted its position in Nextracker by 127.2% during the first quarter. UMB Bank n.a. now owns 1,504 shares of the company’s stock valued at $63,000 after purchasing an additional 842 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Nextracker by 92.5% during the fourth 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 last quarter. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Performance

NASDAQ NXT opened at $64.90 on Wednesday. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.61 and a beta of 2.25. The company’s 50-day simple moving average is $59.87 and its two-hundred day simple moving average is $49.82. Nextracker Inc. has a one year low of $30.93 and a one year high of $67.87.

Analyst Ratings Changes

Several research firms have commented on NXT. Wall Street Zen lowered shares of Nextracker from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Mizuho reiterated a “neutral” rating and set a $65.00 price objective (down previously from $67.00) on shares of Nextracker in a research report on Monday, July 14th. Piper Sandler reissued an “overweight” rating on shares of Nextracker in a research note on Thursday, May 15th. Robert W. Baird increased their target price on shares of Nextracker from $67.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group increased their target price on shares of Nextracker from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.52.

Insider Buying and Selling at Nextracker

In other Nextracker news, COO Nicholas Marco Miller sold 69,774 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $59.65, for a total transaction of $4,162,019.10. Following the transaction, the chief operating officer owned 175,216 shares of the company’s stock, valued at approximately $10,451,634.40. This trade represents a 28.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $333,630.00. Following the transaction, the president directly owned 219,389 shares in the company, valued at $12,066,395. This trade represents a 2.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,476 shares of company stock worth $12,169,880. Company insiders own 0.56% of the company’s stock.

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.