Nextracker Inc. (NASDAQ:NXT) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 78.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,395 shares of the company's stock after purchasing an additional 10,275 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Nextracker were worth $854,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in Nextracker by 516.4% during the fourth quarter. IFP Advisors Inc now owns 3,304 shares of the company's stock valued at $121,000 after buying an additional 2,768 shares during the last quarter. Robeco Schweiz AG purchased a new stake in shares of Nextracker during the 4th quarter worth approximately $22,112,000. New York State Common Retirement Fund raised its holdings in shares of Nextracker by 65.6% during the 4th quarter. New York State Common Retirement Fund now owns 469,163 shares of the company's stock worth $17,139,000 after acquiring an additional 185,858 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Nextracker by 10.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,753,848 shares of the company's stock valued at $64,068,000 after acquiring an additional 161,873 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Nextracker by 23.3% in the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock worth $134,724,000 after purchasing an additional 679,272 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

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Analyst Ratings Changes

Several research firms have commented on NXT. UBS Group increased their price objective on shares of Nextracker from $60.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Piper Sandler increased 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. Wells Fargo & Company dropped their price target on Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets upped their price objective on Nextracker from $48.00 to $50.00 and gave the company a "market perform" rating in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group raised their price objective on Nextracker from $54.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Nextracker has an average rating of "Moderate Buy" and a consensus price target of $56.05.

Nextracker Stock Up 1.5 %

Shares of NXT traded up $0.58 during midday trading on Friday, reaching $38.33. 368,784 shares of the stock were exchanged, compared to its average volume of 3,053,614. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $44.04 and its two-hundred day moving average is $40.30. The company has a market capitalization of $5.58 billion, a P/E ratio of 9.78 and a beta of 2.02. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31.

Nextracker (NASDAQ:NXT - Get Free Report) last posted 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 net margin of 20.12% and a return on equity of 41.22%. On average, sell-side analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current year.

Insider Buying and Selling

In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the firm's stock in a transaction that occurred 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 directly owns 132,374 shares in the company, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value of $489,069.90. Following the completion of the sale, the chief accounting officer now directly owns 124,577 shares of the company's stock, valued at $6,216,392.30. The trade was a 7.29 % decrease in their position. 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 90 days. Corporate insiders own 0.27% of the company's stock.

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.