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

Xponance Inc. increased its position in shares of Nextracker Inc. (NASDAQ:NXT) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,872 shares of the company’s stock after purchasing an additional 895 shares during the quarter. Xponance Inc.’s holdings in Nextracker were worth $762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NXT. Holocene Advisors LP acquired a new stake in shares of Nextracker during the 3rd quarter worth approximately $45,416,000. Erste Asset Management GmbH bought a new stake in Nextracker during the third quarter worth $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nextracker by 88.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591,975 shares of the company’s stock valued at $59,667,000 after purchasing an additional 745,665 shares during the last quarter. State Street Corp increased its stake in shares of Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock valued at $190,041,000 after purchasing an additional 690,343 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock worth $127,169,000 after buying an additional 688,810 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on NXT. UBS Group lifted their target price on Nextracker from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. TD Cowen assumed coverage on shares of Nextracker in a report on Thursday, December 19th. They set a “hold” rating and a $41.00 price target on the stock. Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $56.00 in a research report on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada started coverage on shares of Nextracker in a report on Monday, March 17th. They set an “outperform” rating and a $55.00 price target for the company. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.43.

Nextracker Price Performance

Shares of NXT opened at $45.20 on Tuesday. The firm has a market cap of $6.58 billion, a PE ratio of 11.50 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 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 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 earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. On average, equities analysts anticipate that Nextracker Inc. will post 3.29 EPS for the current year.

Insider Transactions at Nextracker

In other Nextracker news, CAO David P. Bennett sold 9,801 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total value of $489,069.90. Following the transaction, the chief accounting officer now directly owns 124,577 shares of the company’s stock, valued at approximately $6,216,392.30. This trade represents a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Howard Wenger sold 6,066 shares of the business’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 sale, the president now directly owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock valued at $1,217,520 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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.