Nextracker Inc. (NASDAQ:NXT - Get Free Report) insider Leah Schlesinger sold 2,149 shares of Nextracker stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total value of $111,554.59. Following the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $618,248.10. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Nextracker Trading Down 0.5 %
NXT stock opened at $52.07 on Thursday. Nextracker Inc. has a 1-year low of $29.28 and a 1-year high of $62.14. The firm has a market cap of $7.11 billion, a P/E ratio of 27.84, a P/E/G ratio of 0.59 and a beta of 1.94. The business's 50 day moving average is $56.46 and its 200-day moving average is $45.93.
Nextracker (NASDAQ:NXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.51. The business had revenue of $710.43 million for the quarter, compared to analyst estimates of $615.53 million. Nextracker had a negative return on equity of 5.98% and a net margin of 4.48%. Sell-side analysts forecast that Nextracker Inc. will post 2.35 EPS for the current year.
Wall Street Analysts Forecast Growth
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Several brokerages have weighed in on NXT. BMO Capital Markets began coverage on Nextracker in a research note on Friday, March 22nd. They set a "market perform" rating and a $69.00 target price on the stock. Guggenheim began coverage on Nextracker in a research note on Thursday, February 8th. They set a "buy" rating and a $73.00 target price on the stock. The Goldman Sachs Group lifted their target price on Nextracker from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Citigroup boosted their price objective on Nextracker from $45.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company boosted 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. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $57.70.
View Our Latest Analysis on NXT
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Timber Creek Capital Management LLC acquired a new position in shares of Nextracker in the 1st quarter valued at $776,000. PNC Financial Services Group Inc. acquired a new position in shares of Nextracker in the 4th quarter valued at $183,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Nextracker by 128.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 120,598 shares of the company's stock valued at $5,650,000 after purchasing an additional 67,890 shares during the period. HBK Investments L P lifted its stake in shares of Nextracker by 50.0% in the 4th quarter. HBK Investments L P now owns 75,000 shares of the company's stock valued at $3,514,000 after purchasing an additional 25,000 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Nextracker by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 4,710,158 shares of the company's stock valued at $220,671,000 after purchasing an additional 216,674 shares during the period. 67.41% of the stock is currently owned by institutional investors.
About Nextracker
(
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.
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