Penserra Capital Management LLC Buys New Holdings in Nextracker Inc. $NXT

Penserra Capital Management LLC purchased a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,432 shares of the company’s stock, valued at approximately $186,000.

A number of other hedge funds also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Nextracker by 703.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after acquiring an additional 577 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Nextracker by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the period. Summit Securities Group LLC boosted its holdings in Nextracker by 796.0% during the first quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock valued at $38,000 after purchasing an additional 804 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Nextracker in the 1st quarter valued at approximately $40,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Nextracker by 1,737.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock worth $45,000 after buying an additional 782 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NXT. Susquehanna boosted their price target on Nextracker from $76.00 to $100.00 and gave the company a “positive” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. boosted their target price on shares of Nextracker from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Wall Street Zen cut shares of Nextracker from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Roth Capital restated a “buy” rating and issued a $120.00 price target on shares of Nextracker in a research report on Thursday. Finally, Northland Capmk lowered shares of Nextracker from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.19.

Insider Buying and Selling at Nextracker

In other news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $67.21, for a total transaction of $302,445.00. Following the completion of the transaction, the chief financial officer directly owned 295,059 shares of the company’s stock, valued at $19,830,915.39. This trade represents a 1.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Howard Wenger sold 5,217 shares of Nextracker stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $391,275.00. Following the completion of the sale, the president owned 409,039 shares in the company, valued at $30,677,925. This trade represents a 1.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,420 shares of company stock worth $1,092,930 over the last ninety days. 0.56% of the stock is currently owned by insiders.

Nextracker Trading Down 8.7%

Shares of NASDAQ NXT opened at $88.09 on Friday. Nextracker Inc. has a 1 year low of $33.29 and a 1 year high of $112.74. The firm’s 50-day moving average is $84.29 and its 200-day moving average is $67.42. The firm has a market capitalization of $13.07 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.41 and a beta of 2.31.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. Nextracker had a net margin of 17.08% and a return on equity of 35.05%. The firm had revenue of $905.27 million during the quarter, compared to analysts’ expectations of $839.53 million. Nextracker has set its FY 2026 guidance at 4.040-4.250 EPS. As a group, equities research analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

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.