Oppenheimer & Co. Inc. Buys Shares of 7,831 Nextracker Inc. (NASDAQ:NXT)

Oppenheimer & Co. Inc. bought a new stake in shares of Nextracker Inc. (NASDAQ:NXT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,831 shares of the company’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc lifted its holdings in shares of Nextracker by 516.4% during the 4th quarter. IFP Advisors Inc now owns 3,304 shares of the company’s stock valued at $121,000 after purchasing an additional 2,768 shares during the last quarter. Robeco Schweiz AG purchased a new stake in shares of Nextracker during the 4th quarter valued at $22,112,000. Geode Capital Management LLC lifted its holdings in shares of Nextracker by 23.3% during the 3rd 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 during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Nextracker by 33.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company’s stock valued at $45,983,000 after purchasing an additional 307,956 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Nextracker by 30.7% during the 3rd quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock valued at $2,272,000 after purchasing an additional 14,249 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling

In other Nextracker news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the sale, the president now directly owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, the insider now owns 132,374 shares of the company’s stock, valued at $6,095,822.70. This trade represents a 6.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,758 shares of company stock valued at $1,217,520. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on NXT. Northland Capmk upgraded Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group upgraded Nextracker from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $56.00 in a report on Wednesday, January 29th. BMO Capital Markets increased their price objective on Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, January 29th. BNP Paribas upgraded Nextracker to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Susquehanna raised their target price on Nextracker from $50.00 to $54.00 and gave the stock a “positive” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

Nextracker Stock Performance

Shares of NXT stock opened at $41.56 on Friday. The stock has a market cap of $6.05 billion, a PE ratio of 10.58 and a beta of 2.24. The business has a 50-day simple moving average of $44.09 and a 200-day simple moving average of $39.50. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

Nextracker (NASDAQ:NXT) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. On average, equities analysts expect that Nextracker Inc. will post 3.29 EPS for the current year.

About Nextracker

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.