Farmers & Merchants Investments Inc. Has $77,000 Holdings in Nextracker Inc. $NXT

Farmers & Merchants Investments Inc. trimmed its position in Nextracker Inc. (NASDAQ:NXT) by 39.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,420 shares of the company’s stock after selling 907 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Nextracker were worth $77,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Nextracker by 703.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock valued at $28,000 after buying an additional 577 shares during the period. Summit Securities Group LLC boosted its position in shares of Nextracker by 796.0% during the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock valued at $38,000 after acquiring an additional 804 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Nextracker in the first quarter valued at about $40,000. Fifth Third Bancorp raised its position in Nextracker by 27.5% in the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company’s stock worth $51,000 after purchasing an additional 260 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Nextracker by 127.2% during the first quarter. UMB Bank n.a. now owns 1,504 shares of the company’s stock worth $63,000 after purchasing an additional 842 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Price Performance

Shares of NASDAQ NXT opened at $70.56 on Wednesday. The company’s 50 day simple moving average is $63.90 and its 200 day simple moving average is $55.12. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $73.84. The firm has a market capitalization of $10.44 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.70 and a beta of 2.26.

Analyst Ratings Changes

NXT has been the topic of several analyst reports. Cowen reiterated a “hold” rating on shares of Nextracker in a research note on Wednesday, July 30th. TD Cowen upped their price target on Nextracker from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, July 30th. Bank of America increased their price objective on Nextracker from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Wall Street Zen cut Nextracker from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research raised shares of Nextracker to a “hold” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Nextracker has a consensus rating of “Moderate Buy” and an average target price of $65.84.

Insider Buying and Selling

In related news, President Howard Wenger sold 5,703 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the completion of the sale, the president owned 414,256 shares in the company, valued at approximately $28,997,920. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $67.21, for a total value of $302,445.00. Following the transaction, the chief financial officer owned 295,059 shares in the company, valued at approximately $19,830,915.39. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,399 shares of company stock worth $2,001,150. Company insiders own 0.56% 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.