Perpetual Ltd Sells 2,647 Shares of Nextracker Inc. (NASDAQ:NXT)

Perpetual Ltd cut its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 20.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,612 shares of the company’s stock after selling 2,647 shares during the period. Perpetual Ltd’s holdings in Nextracker were worth $388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NXT. Quarry LP boosted its holdings in Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Nextracker by 1.8% during the third quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock worth $1,115,000 after purchasing an additional 519 shares during the last quarter. GAMMA Investing LLC grew its position in Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after purchasing an additional 549 shares in the last quarter. Signaturefd LLC increased its stake in Nextracker by 37.8% in the 3rd quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after buying an additional 560 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in shares of Nextracker by 5.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 11,750 shares of the company’s stock worth $551,000 after buying an additional 581 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Trading Down 3.0 %

Shares of Nextracker stock opened at $41.20 on Thursday. The company’s 50-day moving average price is $38.65 and its 200-day moving average price is $39.24. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 10.27 and a beta of 2.04. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.

Wall Street Analyst Weigh In

NXT has been the subject of several recent analyst reports. Susquehanna reduced their target price on Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. BMO Capital Markets decreased their target price on Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. cut their price target on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Bank of America reduced their price target on shares of Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Robert W. Baird dropped their target price on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.10.

Insider Buying and Selling at Nextracker

In other Nextracker 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 value of $272,970.00. Following the sale, the president now owns 209,365 shares of the company’s stock, valued at $9,421,425. This trade represents a 2.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.