Nextracker (NASDAQ:NXT - Get Free Report) had its price target raised by investment analysts at Susquehanna from $50.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price target suggests a potential upside of 6.66% from the stock's current price.
Other analysts have also issued research reports about the stock. Robert W. Baird lowered their target price on shares of Nextracker from $71.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Northland Securities reiterated an "outperform" rating and issued a $55.00 target price (up from $48.00) on shares of Nextracker in a report on Wednesday. Truist Financial restated a "buy" rating and issued a $56.00 price objective (up previously from $54.00) on shares of Nextracker in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Nextracker from $70.00 to $69.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Nextracker has an average rating of "Moderate Buy" and a consensus target price of $56.50.
Check Out Our Latest Analysis on Nextracker
Nextracker Price Performance
NXT traded up $1.39 during trading on Wednesday, hitting $50.63. The company's stock had a trading volume of 4,529,922 shares, compared to its average volume of 3,460,286. The firm's 50 day moving average price is $39.20 and its two-hundred day moving average price is $39.00. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 12.63 and a beta of 2.04. Nextracker has a 12 month low of $30.93 and a 12 month high of $62.31.
Nextracker (NASDAQ:NXT - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 17.26% and a return on equity of 559.17%. Sell-side analysts forecast that Nextracker will post 2.7 earnings per share for the current fiscal year.
Insider Buying and Selling at Nextracker
In related news, President Howard Wenger sold 6,066 shares of the firm's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares of the company's stock, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company's stock.
Institutional Trading of Nextracker
Large investors have recently modified their holdings of the business. Allworth Financial LP grew its stake in Nextracker by 52.4% in the fourth 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 holdings in shares of Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company's stock worth $42,000 after buying an additional 426 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of 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 in the last quarter. Principal Securities Inc. lifted its position in shares of Nextracker by 41.8% during the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after buying an additional 410 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 buying an additional 516 shares during the period. Institutional investors own 67.41% of the company's stock.
About Nextracker
(
Get Free Report)
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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