Nextracker Inc. (NASDAQ:NXT) Insider Leah Schlesinger Sells 2,149 Shares

Nextracker Inc. (NASDAQ:NXTGet Free Report) insider Leah Schlesinger sold 2,149 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $51.91, for a total value of $111,554.59. Following the completion of the sale, the insider now directly owns 11,910 shares of the company’s stock, valued at $618,248.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Nextracker Stock Performance

Shares of NXT opened at $52.07 on Thursday. The stock has a 50-day simple moving average of $56.46 and a 200-day simple moving average of $45.93. The stock has a market capitalization of $7.11 billion, a PE ratio of 27.84, a PEG ratio of 0.59 and a beta of 1.94. Nextracker Inc. has a 1 year low of $29.28 and a 1 year high of $62.14.

Nextracker (NASDAQ:NXTGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.51. The business had revenue of $710.43 million during the quarter, compared to analysts’ expectations of $615.53 million. Nextracker had a negative return on equity of 5.98% and a net margin of 4.48%. Analysts predict that Nextracker Inc. will post 2.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NXT. The Goldman Sachs Group raised their price objective on Nextracker from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Roth Mkm raised their price objective on Nextracker from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Robert W. Baird began coverage on Nextracker in a research report on Thursday, March 21st. They set an “outperform” rating and a $71.00 price objective for the company. Wells Fargo & Company raised their price objective on Nextracker from $57.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. cut their price objective on Nextracker from $73.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.70.

Check Out Our Latest Research Report on NXT

Hedge Funds Weigh In On Nextracker

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Timber Creek Capital Management LLC purchased a new stake in Nextracker during the first quarter worth approximately $776,000. PNC Financial Services Group Inc. purchased a new stake in Nextracker during the fourth quarter worth approximately $183,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Nextracker by 128.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,598 shares of the company’s stock worth $5,650,000 after purchasing an additional 67,890 shares during the last quarter. HBK Investments L P lifted its stake in Nextracker by 50.0% during the fourth quarter. HBK Investments L P now owns 75,000 shares of the company’s stock worth $3,514,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Nextracker by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 4,710,158 shares of the company’s stock worth $220,671,000 after purchasing an additional 216,674 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Company Profile

(Get Free Report)

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.

Featured Articles

Receive News & Ratings for Nextracker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextracker and related companies with MarketBeat.com's FREE daily email newsletter.