Nextracker Inc. (NASDAQ:NXT) Shares Purchased by Trium Capital LLP

Trium Capital LLP raised its position in Nextracker Inc. (NASDAQ:NXT) by 18.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,666 shares of the company’s stock after buying an additional 1,213 shares during the period. Trium Capital LLP’s holdings in Nextracker were worth $280,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Nextracker by 29.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 96,792 shares of the company’s stock worth $3,536,000 after purchasing an additional 21,760 shares during the last quarter. Hilltop National Bank lifted its position in Nextracker by 75.1% during the fourth quarter. Hilltop National Bank now owns 2,078 shares of the company’s stock worth $76,000 after buying an additional 891 shares during the period. Nordea Investment Management AB acquired a new stake in Nextracker in the 4th quarter worth about $5,734,000. Central Pacific Bank Trust Division purchased a new stake in Nextracker in the 4th quarter valued at about $94,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Nextracker during the 4th quarter valued at about $331,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Nextracker from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets lowered their price objective on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Barclays cut their target price on Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. TD Cowen began coverage on Nextracker in a report on Thursday, December 19th. They issued a “hold” rating and a $41.00 target price on the stock. Finally, Piper Sandler dropped their price target on Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.10.

Insider Transactions at Nextracker

In related news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction on 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 in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Nextracker Stock Performance

Shares of NXT stock opened at $44.19 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The company’s fifty day moving average price is $38.47 and its two-hundred day moving average price is $39.39. The firm has a market capitalization of $6.43 billion, a P/E ratio of 11.02 and a beta of 2.04. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31.

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.