Nextracker Inc. (NASDAQ:NXT) Shares Bought by Captrust Financial Advisors

Captrust Financial Advisors lifted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 131.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 13,468 shares of the company’s stock after buying an additional 7,650 shares during the period. Captrust Financial Advisors’ holdings in Nextracker were worth $492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP increased its holdings in Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after acquiring an additional 276 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Nextracker by 448.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock worth $47,000 after purchasing an additional 1,055 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Nextracker during the 4th quarter worth approximately $48,000. Principal Securities Inc. lifted its stake in Nextracker by 41.8% in 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, Quadrant Capital Group LLC grew its holdings in Nextracker by 92.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company’s stock valued at $66,000 after buying an additional 873 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Analysts Set New Price Targets

NXT has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Nextracker from $59.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. TD Cowen lifted their price objective on Nextracker from $47.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday. Northland Securities restated an “outperform” rating and issued a $55.00 target price (up from $48.00) on shares of Nextracker in a report on Wednesday, January 29th. BMO Capital Markets raised their price target on shares of Nextracker from $51.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Susquehanna boosted their price objective on shares of Nextracker from $54.00 to $66.00 and gave the company a “positive” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and an average price target of $59.90.

Nextracker Stock Performance

Shares of NASDAQ:NXT opened at $59.31 on Monday. The business has a 50-day moving average of $43.44 and a two-hundred day moving average of $42.10. The firm has a market capitalization of $8.64 billion, a PE ratio of 15.09 and a beta of 2.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $63.19.

Insider Activity

In related news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total transaction of $333,630.00. Following the completion of the sale, the president now directly owns 219,389 shares of the company’s stock, valued at approximately $12,066,395. This represents a 2.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO David P. Bennett sold 9,801 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $539,055.00. Following the completion of the transaction, the chief accounting officer now directly owns 124,615 shares in the company, valued at $6,853,825. This trade represents a 7.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,320 shares of company stock valued at $2,524,532 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Nextracker 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.