Vontobel Holding Ltd. Makes New Investment in Nextracker Inc. (NASDAQ:NXT)

Vontobel Holding Ltd. acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 43,318 shares of the company’s stock, valued at approximately $1,582,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NXT. Quarry LP increased its holdings in shares of Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after acquiring an additional 426 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Nextracker in the 3rd quarter valued at approximately $74,000. Arcadia Investment Management Corp MI bought a new stake in shares of Nextracker in the 3rd quarter valued at approximately $75,000. Finally, Signaturefd LLC increased its holdings in shares of Nextracker by 37.8% in the 3rd quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after acquiring an additional 560 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO David P. Bennett sold 9,801 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the completion of the sale, the chief accounting officer now owns 124,577 shares in the company, valued at approximately $6,216,392.30. This represents a 7.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $45.00, for a total value of $272,970.00. Following the sale, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,758 shares of company stock valued at $1,217,520 in the last three months. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NXT shares. UBS Group upped their price objective on Nextracker from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. TD Cowen started coverage on Nextracker in a research note on Thursday, December 19th. They set a “hold” rating and a $41.00 price objective for the company. Barclays upgraded Nextracker from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $47.00 to $60.00 in a research note on Wednesday, January 29th. Robert W. Baird lowered their price objective on Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Nextracker has an average rating of “Moderate Buy” and an average target price of $56.50.

Nextracker Stock Up 3.0 %

NASDAQ:NXT opened at $47.30 on Tuesday. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 12.04 and a beta of 2.14. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $41.32 and its 200 day moving average price is $38.95.

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 the consensus estimate of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. On average, sell-side analysts forecast that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Nextracker 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.