Nextracker Inc. (NASDAQ:NXT) Stock Position Lowered by Clayton Partners LLC

Clayton Partners LLC lessened its position in Nextracker Inc. (NASDAQ:NXT) by 0.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,254 shares of the company’s stock after selling 391 shares during the quarter. Nextracker makes up about 1.8% of Clayton Partners LLC’s holdings, making the stock its 23rd biggest holding. Clayton Partners LLC’s holdings in Nextracker were worth $2,639,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its position in 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 in the last quarter. Quarry LP lifted its position in Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after buying an additional 426 shares in the last quarter. Principal Securities Inc. lifted its position in Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after buying an additional 410 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after buying an additional 516 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Nextracker during the 3rd quarter worth $74,000. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Insider Transactions at Nextracker

In related news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Bruce Ledesma sold 9,891 shares of Nextracker 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 of the company’s stock, valued at $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,758 shares of company stock valued at $1,217,520. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and increased their price target for the stock from $46.00 to $56.00 in a research note on Wednesday, January 29th. The Goldman Sachs Group increased their price target on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. BMO Capital Markets increased their price target on shares of Nextracker from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th. Finally, Guggenheim increased their price target on shares of Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Nextracker Price Performance

NASDAQ:NXT opened at $44.31 on Friday. The company has a 50-day moving average of $44.72 and a 200-day moving average of $39.61. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 11.27 and a beta of 2.24. 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 released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping 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 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.