Shares of Nextracker Inc. (NASDAQ:NXT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-four analysts that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $56.50.
A number of equities analysts have recently commented on the company. Bank of America dropped their price objective on Nextracker from $65.00 to $52.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price target on Nextracker from $70.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Truist Financial reaffirmed 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. JPMorgan Chase & Co. lifted their price objective on Nextracker from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Finally, Susquehanna lifted their price objective on Nextracker from $50.00 to $54.00 and gave the company a "positive" rating in a report on Wednesday, January 29th.
Read Our Latest Report on NXT
Nextracker Stock Up 1.3 %
NASDAQ NXT traded up $0.60 during trading on Monday, hitting $47.49. 1,124,918 shares of the company traded hands, compared to its average volume of 3,341,100. Nextracker has a 12 month low of $30.93 and a 12 month high of $62.31. The business has a fifty day simple moving average of $40.21 and a 200 day simple moving average of $39.06. 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 has a market capitalization of $6.91 billion, a P/E ratio of 12.11 and a beta of 2.13.
Nextracker (NASDAQ:NXT - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that Nextracker will post 3.29 EPS for the current year.
Insider Buying and Selling at Nextracker
In related news, CAO David P. Bennett sold 9,801 shares of the company'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 completion of the sale, the chief accounting officer now owns 124,577 shares in the company, valued at $6,216,392.30. This represents a 7.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Howard Wenger sold 6,066 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the sale, the president now owns 209,365 shares of the company's stock, valued at approximately $9,421,425. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.
Institutional Trading of Nextracker
A number of large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its stake in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after purchasing an additional 276 shares during the period. Quarry LP boosted its stake in Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company's stock worth $42,000 after purchasing an additional 426 shares during the period. GAMMA Investing LLC boosted its stake in Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company's stock worth $45,000 after purchasing an additional 549 shares during the period. Principal Securities Inc. boosted its stake in Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock worth $51,000 after purchasing an additional 410 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company's stock worth $68,000 after purchasing an additional 516 shares during the period. Institutional investors own 67.41% of the company's stock.
About Nextracker
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Get Free ReportNextracker 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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