Greystone Financial Group LLC Acquires Shares of 17,311 Nextracker Inc. (NASDAQ:NXT)

Greystone Financial Group LLC acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 17,311 shares of the company's stock, valued at approximately $649,000.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Nextracker by 73.2% during the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company's stock worth $31,000 after buying an additional 279 shares in the last quarter. TFC Financial Management Inc. purchased a new stake in Nextracker during the 2nd quarter worth approximately $32,000. Fifth Third Bancorp increased its stake in Nextracker by 1,602.5% during the 2nd quarter. Fifth Third Bancorp now owns 681 shares of the company's stock worth $32,000 after buying an additional 641 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Nextracker during the 2nd quarter worth approximately $35,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of Nextracker during the 1st quarter worth approximately $38,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Nextracker in a report on Wednesday, September 4th. They set a "hold" rating and a $46.00 target price on the stock. Guggenheim lowered their target price on Nextracker from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, August 16th. Bank of America boosted their target price on Nextracker from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Roth Mkm lowered their target price on Nextracker from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered their target price on Nextracker from $56.00 to $44.00 and set a "market perform" rating on the stock in a report on Monday, October 14th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Nextracker currently has an average rating of "Moderate Buy" and an average target price of $56.65.

Nextracker Stock Down 0.4 %

Shares of Nextracker stock traded down $0.13 during trading hours on Thursday, reaching $31.29. 2,216,679 shares of the company were exchanged, compared to its average volume of 3,730,183. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. The stock's fifty day moving average is $36.90 and its 200 day moving average is $44.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.11. The firm has a market cap of $4.54 billion, a PE ratio of 9.31 and a beta of 2.47.

Nextracker (NASDAQ:NXT - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.27. Nextracker had a negative return on equity of 36.33% and a net margin of 14.87%. The business had revenue of $719.92 million for the quarter, compared to analyst estimates of $616.71 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The company's revenue was up 50.1% on a year-over-year basis. As a group, equities research analysts forecast that Nextracker Inc. will post 2.52 earnings per share for the current year.

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.