81,000 Shares in Nextracker Inc. (NASDAQ:NXT) Purchased by Clark Estates Inc. NY

Clark Estates Inc. NY purchased a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 81,000 shares of the company's stock, valued at approximately $2,959,000. Clark Estates Inc. NY owned about 0.06% of Nextracker at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NXT. State of Alaska Department of Revenue raised its position in Nextracker by 24.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 16,660 shares of the company's stock valued at $624,000 after purchasing an additional 3,300 shares during the last quarter. New York State Teachers Retirement System raised its position in Nextracker by 9.4% in the 3rd quarter. New York State Teachers Retirement System now owns 108,476 shares of the company's stock valued at $4,066,000 after purchasing an additional 9,279 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Nextracker by 111.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 75,032 shares of the company's stock valued at $2,812,000 after purchasing an additional 39,567 shares during the last quarter. Van ECK Associates Corp raised its position in Nextracker by 30.7% in the 3rd quarter. Van ECK Associates Corp now owns 60,613 shares of the company's stock valued at $2,272,000 after purchasing an additional 14,249 shares during the last quarter. Finally, Amalgamated Bank raised its position in Nextracker by 10.7% during the 3rd quarter. Amalgamated Bank now owns 65,762 shares of the company's stock worth $2,465,000 after buying an additional 6,344 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

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Nextracker Stock Down 1.3 %

Shares of NXT traded down $0.53 during mid-day trading on Friday, reaching $41.56. 2,365,442 shares of the stock traded hands, compared to its average volume of 3,115,284. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 10.58 and a beta of 2.14. The stock has a fifty day simple moving average of $44.09 and a 200 day simple moving average of $39.50. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10.

Nextracker (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Insider Transactions at Nextracker

In other Nextracker news, President Howard Wenger sold 6,066 shares of the firm's stock in a transaction on 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 directly owns 209,365 shares in the company, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bruce Ledesma sold 9,891 shares of the firm's 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 in the company, valued at $6,095,822.70. The trade was a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,758 shares of company stock valued at $1,217,520. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on NXT. Guggenheim upped their price objective on shares of Nextracker from $50.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price target on shares of Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Piper Sandler increased their price objective on shares of Nextracker from $47.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. BNP Paribas raised shares of Nextracker to a "strong-buy" rating in a research note on Wednesday, January 29th. Finally, Truist Financial reiterated a "buy" rating and set a $56.00 price objective (up from $54.00) on shares of Nextracker in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nextracker presently has an average rating of "Moderate Buy" and an average target price of $56.50.

Nextracker 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.