Xponance Inc. Buys 895 Shares of Nextracker Inc. (NASDAQ:NXT)

Xponance Inc. raised its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 4.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 20,872 shares of the company’s stock after acquiring an additional 895 shares during the period. Xponance Inc.’s holdings in Nextracker were worth $762,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its stake in shares of Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after buying an additional 276 shares during the last quarter. Quarry LP lifted its holdings in Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares during the period. Principal Securities Inc. grew its stake in Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after purchasing an additional 410 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after purchasing an additional 516 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Nextracker during the 3rd quarter worth $74,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NXT shares. BMO Capital Markets increased their price target on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. Northland Securities restated an “outperform” rating and set a $55.00 price target (up previously from $48.00) on shares of Nextracker in a research note on Wednesday, January 29th. UBS Group upped their price objective on Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. TD Cowen assumed coverage on Nextracker in a research report on Thursday, December 19th. They issued a “hold” rating and a $41.00 target price for the company. Finally, Piper Sandler upped their price target on Nextracker from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.43.

Nextracker Price Performance

Shares of NASDAQ NXT opened at $45.20 on Tuesday. The firm has a market capitalization of $6.58 billion, a P/E ratio of 11.50 and a beta of 2.24. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $45.08 and its two-hundred day simple moving average is $39.87. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.

Nextracker (NASDAQ:NXT) last announced its earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. As a group, equities analysts anticipate that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the transaction, the president now directly owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, the insider now directly owns 132,374 shares of the company’s stock, valued at approximately $6,095,822.70. This represents a 6.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,758 shares of company stock valued at $1,217,520. Insiders own 0.27% of the company’s stock.

Nextracker Company 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.