Leuthold Group LLC Sells 360 Shares of Nextracker Inc. (NASDAQ:NXT)

Leuthold Group LLC decreased its stake in Nextracker Inc. (NASDAQ:NXT) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,415 shares of the company’s stock after selling 360 shares during the period. Leuthold Group LLC’s holdings in Nextracker were worth $1,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NXT. Vanguard Group Inc. increased its position in Nextracker by 166.1% during the 1st quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company’s stock valued at $705,149,000 after purchasing an additional 7,821,368 shares during the period. Norges Bank bought a new stake in shares of Nextracker in the 4th quarter valued at $120,861,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Nextracker in the 2nd quarter valued at $43,078,000. Earnest Partners LLC acquired a new stake in shares of Nextracker during the first quarter worth $46,593,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nextracker by 1,800.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock worth $39,675,000 after buying an additional 801,780 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextracker Trading Down 1.0 %

Shares of Nextracker stock opened at $36.46 on Friday. The company has a market capitalization of $5.29 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 5.16 and a beta of 2.47. The stock has a fifty day simple moving average of $41.33 and a 200 day simple moving average of $47.99. Nextracker Inc. has a 12-month low of $32.14 and a 12-month high of $62.31. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

Nextracker (NASDAQ:NXT) last announced its earnings results on Thursday, August 1st. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.66 by $0.27. Nextracker had a net margin of 14.87% and a negative return on equity of 36.33%. The company had revenue of $719.92 million during the quarter, compared to the consensus estimate of $616.71 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. On average, sell-side analysts anticipate that Nextracker Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on NXT shares. Susquehanna began coverage on shares of Nextracker in a research report on Friday, June 28th. They set a “positive” rating and a $59.00 price target on the stock. Jefferies Financial Group began coverage on Nextracker in a research note on Wednesday, September 4th. They set a “hold” rating and a $46.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $55.00 price target on shares of Nextracker in a research note on Friday, August 2nd. Roth Mkm cut their price target on Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America lifted their price objective on shares of Nextracker from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.91.

Nextracker Company 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.