Nisa Investment Advisors LLC Has $68,000 Stake in Nextracker Inc. (NASDAQ:NXT)

Nisa Investment Advisors LLC lifted its holdings in Nextracker Inc. (NASDAQ:NXT) by 38.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,859 shares of the company’s stock after acquiring an additional 516 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Nextracker were worth $68,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NXT. State Street Corp increased its position in Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock valued at $190,041,000 after acquiring an additional 690,343 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nextracker by 23.3% in the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock valued at $134,724,000 after purchasing an additional 679,272 shares in the last quarter. Wellington Management Group LLP raised its position in Nextracker by 25.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock worth $127,169,000 after purchasing an additional 688,810 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Nextracker by 15.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company’s stock worth $88,739,000 after buying an additional 315,199 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Nextracker by 5.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,675,617 shares of the company’s stock worth $62,802,000 after buying an additional 84,069 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NXT shares. Barclays upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $47.00 to $60.00 in a research report on Wednesday. Jefferies Financial Group raised shares of Nextracker from a “hold” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $56.00 in a report on Wednesday. Robert W. Baird cut their price target on Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial reissued a “buy” rating and issued a $56.00 target price (up previously from $54.00) on shares of Nextracker in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.50.

Insider Transactions at Nextracker

In other Nextracker news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the sale, the president now owns 209,365 shares of the company’s stock, valued at $9,421,425. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Nextracker Trading Up 2.8 %

Shares of NASDAQ:NXT opened at $50.63 on Friday. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. The company has a market capitalization of $7.37 billion, a P/E ratio of 12.63 and a beta of 2.04. The company has a 50-day simple moving average of $39.20 and a 200 day simple moving average of $39.00.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 559.17% and a net margin of 17.26%. Sell-side analysts forecast that Nextracker Inc. will post 2.7 earnings per share for the current year.

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.