Nextracker Inc. (NASDAQ:NXT) Insider Bruce Ledesma Sells 12,135 Shares of Stock

Nextracker Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 12,135 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $43.91, for a total transaction of $532,847.85. Following the completion of the transaction, the insider now owns 17,387 shares in the company, valued at $763,463.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nextracker Trading Up 13.6 %

NXT stock opened at $53.44 on Thursday. The firm has a 50-day moving average price of $49.07 and a 200-day moving average price of $48.08. The stock has a market capitalization of $7.30 billion, a P/E ratio of 15.90 and a beta of 2.42. Nextracker Inc. has a 12 month low of $32.14 and a 12 month high of $62.14.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NXT shares. BMO Capital Markets decreased their price target on shares of Nextracker from $62.00 to $56.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 15th. Bank of America upped their price target on shares of Nextracker from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Daiwa Capital Markets assumed coverage on shares of Nextracker in a research report on Monday, April 1st. They set an “outperform” rating and a $63.00 price objective for the company. Barclays cut shares of Nextracker from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $55.00 to $63.00 in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Nextracker from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.52.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NXT. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Nextracker in the 1st quarter valued at approximately $25,000. Lindbrook Capital LLC bought a new position in Nextracker in the 1st quarter valued at approximately $34,000. Bruce G. Allen Investments LLC acquired a new stake in Nextracker during the 1st quarter valued at approximately $37,000. Toth Financial Advisory Corp acquired a new stake in Nextracker during the 1st quarter valued at approximately $38,000. Finally, Tucker Asset Management LLC acquired a new stake in Nextracker during the 3rd quarter valued at approximately $42,000. Institutional investors own 67.41% of the company’s stock.

Nextracker Company 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.