Ruffer LLP Invests $3.95 Million in Nextracker Inc. (NASDAQ:NXT)

Ruffer LLP bought a new stake in Nextracker Inc. (NASDAQ:NXT) in the 4th quarter, Holdings Channel.com reports. The fund bought 108,230 shares of the company’s stock, valued at approximately $3,954,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Quarry LP grew its holdings in Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after purchasing an additional 426 shares during the period. Principal Securities Inc. raised its stake in Nextracker by 41.8% during the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after purchasing an additional 410 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Nextracker by 38.4% in 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 purchased a new stake in shares of Nextracker during the 3rd quarter valued at $74,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Guggenheim upped their price target on Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. UBS Group lifted their price target on shares of Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Susquehanna increased their price objective on shares of Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised shares of Nextracker from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $56.00 in a research report on Wednesday, January 29th. Finally, Citigroup lowered their price target on Nextracker from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.50.

Nextracker Stock Performance

NXT stock opened at $41.56 on Friday. The stock has a market cap of $6.05 billion, a P/E ratio of 10.58 and a beta of 2.24. The firm has a 50 day simple moving average of $44.09 and a 200 day simple moving average of $39.50. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20.

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

Insiders Place Their Bets

In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction of $455,480.55. Following the transaction, the insider now directly owns 132,374 shares in the company, valued at approximately $6,095,822.70. This represents a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Howard Wenger sold 6,066 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock worth $1,217,520 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.