Quaero Capital S.A. Sells 13,410 Shares of Nextracker Inc. (NASDAQ:NXT)

Quaero Capital S.A. lowered its position in Nextracker Inc. (NASDAQ:NXT - Free Report) by 27.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,862 shares of the company's stock after selling 13,410 shares during the period. Quaero Capital S.A.'s holdings in Nextracker were worth $1,310,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NXT. Holocene Advisors LP bought a new position in shares of Nextracker in the 3rd quarter worth approximately $45,416,000. Erste Asset Management GmbH bought a new position in Nextracker during the 3rd quarter valued at approximately $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nextracker by 88.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591,975 shares of the company's stock valued at $59,667,000 after buying an additional 745,665 shares in the last quarter. State Street Corp increased its position in Nextracker by 15.8% during the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company's stock valued at $190,041,000 after buying an additional 690,343 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock valued at $127,169,000 after buying an additional 688,810 shares in the last quarter. Institutional investors own 67.41% of the company's stock.

Insider Activity at Nextracker

In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $46.05, for a total transaction of $455,480.55. Following the sale, the insider now directly owns 132,374 shares of the company's stock, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the firm's 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 sale, the chief accounting officer now directly owns 124,577 shares in the company, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,758 shares of company stock worth $1,217,520. Corporate insiders own 0.27% of the company's stock.

Nextracker Stock Performance

NASDAQ NXT traded up $0.32 on Wednesday, hitting $48.61. 2,800,218 shares of the company traded hands, compared to its average volume of 3,201,335. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 12.37 and a beta of 2.14. 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 50 day moving average price is $41.73 and its 200-day moving average price is $39.00. 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 released 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%. Equities analysts expect that Nextracker Inc. will post 3.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NXT shares. Barclays raised Nextracker from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $47.00 to $60.00 in a research report on Wednesday, January 29th. 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 report on Wednesday, January 29th. TD Cowen assumed coverage on Nextracker in a research report on Thursday, December 19th. They set a "hold" rating and a $41.00 price objective for the company. BNP Paribas upgraded Nextracker to a "strong-buy" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on Nextracker from $58.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Three investment 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $56.50.

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.