Capital Advisors Ltd. LLC Buys Shares of 815 Nextracker Inc. (NASDAQ:NXT)

Capital Advisors Ltd. LLC acquired a new stake in shares of Nextracker Inc. (NASDAQ:NXT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 815 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Nextracker in the 1st quarter valued at about $37,000. Toth Financial Advisory Corp acquired a new stake in Nextracker in the 1st quarter valued at approximately $38,000. Tucker Asset Management LLC bought a new stake in Nextracker in the 3rd quarter valued at approximately $42,000. Wahed Invest LLC acquired a new position in Nextracker during the 4th quarter worth approximately $43,000. Finally, Global Retirement Partners LLC bought a new position in shares of Nextracker during the 4th quarter worth approximately $63,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on NXT shares. Robert W. Baird began coverage on shares of Nextracker in a report on Thursday, March 21st. They set an “outperform” rating and a $71.00 target price for the company. Scotiabank decreased their price objective on Nextracker from $55.00 to $50.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Piper Sandler lowered their target price on Nextracker from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Barclays cut Nextracker from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $55.00 to $63.00 in a research report on Tuesday, April 2nd. Finally, Fox Advisors raised Nextracker from an “equal weight” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Wednesday, May 15th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.54.

Insiders Place Their Bets

In other news, insider Bruce Ledesma sold 12,135 shares of Nextracker stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $43.91, for a total value of $532,847.85. Following the completion of the sale, the insider now directly owns 17,387 shares in the company, valued at $763,463.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Nextracker Price Performance

Shares of NASDAQ NXT opened at $45.32 on Wednesday. The business’s 50 day moving average is $50.37 and its 200-day moving average is $51.20. The firm has a market cap of $6.58 billion, a P/E ratio of 13.49 and a beta of 2.52. Nextracker Inc. has a 1-year low of $32.14 and a 1-year high of $62.31. The company has a current ratio of 1.98, a quick ratio of 1.76 and a debt-to-equity ratio of 0.15.

Nextracker (NASDAQ:NXT) last posted its earnings results on Tuesday, May 14th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.38. Nextracker had a negative return on equity of 13.70% and a net margin of 12.25%. The company had revenue of $736.52 million during the quarter, compared to the consensus estimate of $681.03 million. Equities research analysts predict that Nextracker Inc. will post 2.23 earnings per share for the current year.

Nextracker Profile

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.