Nextracker (NXT) – Investment Analysts’ Recent Ratings Changes

Nextracker (NASDAQ: NXT) has recently received a number of price target changes and ratings updates:

• 4/11/2024 – Nextracker had its price target lowered by analysts at Piper Sandler from $66.00 to $64.00. They now have an “overweight” rating on the stock.
• 4/10/2024 – Nextracker had its price target raised by analysts at Bank of America Co. from $53.00 to $60.00. They now have a “buy” rating on the stock.
• 4/2/2024 – Nextracker was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $63.00 price target on the stock, up previously from $55.00.
• 4/1/2024 – Nextracker is now covered by analysts at Daiwa Capital Markets. They set an “outperform” rating and a $63.00 price target on the stock.
• 3/22/2024 – Nextracker is now covered by analysts at BMO Capital Markets. They set a “market perform” rating and a $69.00 price target on the stock.
• 3/21/2024 – Nextracker is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $71.00 price target on the stock.
• 2/29/2024 – Nextracker had its price target lowered by analysts at JPMorgan Chase & Co. from $73.00 to $67.00. They now have an “overweight” rating on the stock.

Nextracker Trading Down 0.5 %

Shares of NASDAQ NXT opened at $44.53 on Friday. The firm has a 50 day moving average of $55.92 and a 200 day moving average of $46.48. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 0.37 and a beta of 1.94. Nextracker Inc. has a 12-month low of $29.28 and a 12-month high of $62.14.

Nextracker (NASDAQ:NXT) last released its earnings results on Wednesday, January 31st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.37 by $0.51. Nextracker had a net margin of 4.48% and a negative return on equity of 5.98%. The firm had revenue of $710.43 million for the quarter, compared to the consensus estimate of $615.53 million. Sell-side analysts predict that Nextracker Inc. will post 2.35 EPS for the current year.

Insider Buying and Selling at Nextracker

In related news, insider Leah Schlesinger sold 2,149 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total value of $111,554.59. Following the transaction, the insider now owns 11,910 shares of the company’s stock, valued at approximately $618,248.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Leah Schlesinger sold 2,149 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total value of $111,554.59. Following the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $618,248.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nicholas Marco Miller sold 8,355 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total transaction of $440,057.85. Following the completion of the sale, the chief operating officer now owns 11,114 shares in the company, valued at $585,374.38. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Nextracker

Institutional investors have recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in shares of Nextracker during the 1st quarter valued at approximately $37,000. Toth Financial Advisory Corp purchased a new position in shares of Nextracker during the 1st quarter valued at approximately $38,000. Tucker Asset Management LLC purchased a new stake in Nextracker in the 3rd quarter worth $42,000. Wahed Invest LLC purchased a new stake in Nextracker in the 4th quarter worth $43,000. Finally, Capital Advisors Ltd. LLC purchased a new stake in Nextracker in the 1st quarter worth $46,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.