Natural Investments LLC Makes New Investment in Nextracker Inc. (NASDAQ:NXT)

Natural Investments LLC acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 27,734 shares of the company's stock, valued at approximately $1,013,000.

Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Nextracker by 10.7% in the 3rd quarter. Amalgamated Bank now owns 65,762 shares of the company's stock valued at $2,465,000 after buying an additional 6,344 shares during the period. Covestor Ltd lifted its holdings in shares of Nextracker by 240.9% in the 3rd quarter. Covestor Ltd now owns 3,010 shares of the company's stock valued at $113,000 after buying an additional 2,127 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Nextracker by 11.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 51,670 shares of the company's stock valued at $1,937,000 after buying an additional 5,489 shares during the period. Proactive Wealth Strategies LLC acquired a new stake in shares of Nextracker in the 3rd quarter valued at approximately $1,324,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Nextracker in the 3rd quarter valued at approximately $247,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Guggenheim raised their price target on Nextracker from $50.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Wells Fargo & Company reduced their price objective on Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Citigroup reduced their price objective on Nextracker from $50.00 to $45.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Finally, Barclays raised Nextracker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $47.00 to $60.00 in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.50.

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Insiders Place Their Bets

In related news, insider Bruce Ledesma sold 9,891 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the transaction, the insider now owns 132,374 shares of the company's stock, valued at approximately $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO David P. Bennett sold 9,801 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total value of $489,069.90. Following the completion of the transaction, the chief accounting officer now directly owns 124,577 shares of the company's stock, valued at $6,216,392.30. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock worth $1,217,520 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Nextracker Price Performance

Shares of Nextracker stock opened at $44.94 on Wednesday. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The stock has a market capitalization of $6.54 billion, a P/E ratio of 11.44 and a beta of 2.24. 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 business's fifty day moving average price is $44.35 and its 200 day moving average price is $39.53.

Nextracker (NASDAQ:NXT - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. As a group, research analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current year.

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.

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