Nextracker Inc. (NASDAQ:NXT) Shares Bought by Pier Capital LLC

Pier Capital LLC increased its position in Nextracker Inc. (NASDAQ:NXT) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,166 shares of the company’s stock after buying an additional 1,183 shares during the quarter. Pier Capital LLC’s holdings in Nextracker were worth $7,568,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in Nextracker by 13.5% during the third quarter. Thrivent Financial for Lutherans now owns 33,698 shares of the company’s stock valued at $1,263,000 after purchasing an additional 4,006 shares during the last quarter. Swiss National Bank increased its holdings in shares of Nextracker by 9.9% in the third quarter. Swiss National Bank now owns 265,620 shares of the company’s stock valued at $9,955,000 after buying an additional 23,900 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Nextracker during the 3rd quarter valued at $1,035,000. Charles Schwab Investment Management Inc. lifted its position in shares of Nextracker by 24.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,320,916 shares of the company’s stock valued at $49,508,000 after acquiring an additional 261,523 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of Nextracker by 13.2% during the 3rd quarter. Algert Global LLC now owns 117,279 shares of the company’s stock worth $4,396,000 after acquiring an additional 13,697 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Performance

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

Nextracker (NASDAQ:NXT) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 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%. Analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

NXT has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Nextracker from a “hold” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $56.00 in a research report on Wednesday, January 29th. Guggenheim boosted their price objective on Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. BMO Capital Markets upped their price objective on shares of Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, January 29th. Citigroup dropped their target price on shares of Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Piper Sandler boosted their price target on shares of Nextracker from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Three investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.43.

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.