Vontobel Holding Ltd. Acquires Shares of 43,318 Nextracker Inc. (NASDAQ:NXT)

Vontobel Holding Ltd. bought a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,318 shares of the company's stock, valued at approximately $1,582,000.

A number of other hedge funds have also made changes to their positions in NXT. Quarry LP raised its position in shares of Nextracker by 61.5% during 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 last quarter. Nisa Investment Advisors LLC increased its position in Nextracker by 38.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company's stock worth $68,000 after buying an additional 516 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Nextracker by 1.8% in the third quarter. HighTower Advisors LLC now owns 29,777 shares of the company's stock worth $1,115,000 after acquiring an additional 519 shares during the last quarter. Signaturefd LLC lifted its position in shares of Nextracker by 37.8% in the third quarter. Signaturefd LLC now owns 2,043 shares of the company's stock valued at $77,000 after acquiring an additional 560 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its stake in shares of Nextracker by 0.4% during the third quarter. Clear Harbor Asset Management LLC now owns 152,153 shares of the company's stock valued at $5,703,000 after acquiring an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

Insider Activity at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the firm'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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David P. Bennett sold 9,801 shares of Nextracker stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,758 shares of company stock worth $1,217,520. 0.27% of the stock is currently owned by company insiders.

Nextracker Trading Down 4.8 %

Shares of NXT stock traded down $2.30 during mid-day trading on Friday, reaching $46.12. The company's stock had a trading volume of 1,832,627 shares, compared to its average volume of 3,122,660. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $6.72 billion, a PE ratio of 11.74 and a beta of 2.14. The company's 50 day simple moving average is $42.23 and its 200-day simple moving average is $39.13. 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 released its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS 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%. On average, research analysts predict that Nextracker Inc. will post 3.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NXT. TD Cowen began coverage on shares of Nextracker in a research note on Thursday, December 19th. They issued a "hold" rating and a $41.00 target price for the company. BNP Paribas raised shares of Nextracker to a "strong-buy" rating in a research report on Wednesday, January 29th. BMO Capital Markets raised their target price on shares of Nextracker from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their target price on shares of Nextracker from $70.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler increased their price target on Nextracker from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Three 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 data from MarketBeat, Nextracker has an average rating of "Moderate Buy" and an average price target of $56.50.

About Nextracker

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.