Ruffer LLP Acquires Shares of 108,230 Nextracker Inc. (NASDAQ:NXT)

Ruffer LLP purchased a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 108,230 shares of the company's stock, valued at approximately $3,954,000. Ruffer LLP owned about 0.07% of Nextracker as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in shares of 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 purchasing an additional 690,343 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Nextracker by 23.3% during the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock valued at $134,724,000 after purchasing an additional 679,272 shares in the last quarter. Wellington Management Group LLP boosted its stake in Nextracker by 25.5% during the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company's stock worth $127,169,000 after acquiring an additional 688,810 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Nextracker by 15.4% in the third quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company's stock worth $88,739,000 after acquiring an additional 315,199 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Nextracker by 36.0% during the fourth quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company's stock valued at $83,223,000 after acquiring an additional 602,600 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on NXT. Northland Capmk raised Nextracker to a "strong-buy" rating in a report on Tuesday, November 19th. BNP Paribas upgraded shares of Nextracker to a "strong-buy" rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price target on Nextracker from $54.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. UBS Group increased their price objective on Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, Barclays upgraded Nextracker from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $47.00 to $60.00 in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Nextracker currently has an average rating of "Moderate Buy" and an average price target of $56.50.

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Insider Buying and Selling at Nextracker

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

Nextracker Price Performance

Shares of Nextracker stock opened at $41.56 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. The business has a 50 day simple moving average of $44.09 and a two-hundred day simple moving average of $39.50. The stock has a market capitalization of $6.05 billion, a P/E ratio of 10.58 and a beta of 2.24. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31.

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