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

Nextracker Inc. (NASDAQ:NXT) insider Bruce Ledesma sold 12,135 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $43.91, for a total transaction of $532,847.85. Following the transaction, the insider now owns 17,387 shares in the company, valued at approximately $763,463.17. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Nextracker Stock Performance

Shares of Nextracker stock opened at $51.32 on Friday. The firm’s 50-day simple moving average is $48.91 and its 200-day simple moving average is $48.10. Nextracker Inc. has a twelve month low of $32.14 and a twelve month high of $62.14. The firm has a market cap of $7.01 billion, a P/E ratio of 15.27 and a beta of 2.42.

Analyst Upgrades and Downgrades

NXT has been the topic of a number of recent research reports. Wells Fargo & Company cut their price target on shares of Nextracker from $68.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, May 15th. Daiwa Capital Markets began coverage on shares of Nextracker in a report on Monday, April 1st. They set an “outperform” rating and a $63.00 price target on the stock. Roth Mkm reiterated a “buy” rating and issued a $70.00 target price on shares of Nextracker in a report on Wednesday, May 15th. Fox Advisors upgraded shares of Nextracker from an “equal weight” rating to an “overweight” rating and set a $60.00 target price on the stock in a report on Wednesday, May 15th. Finally, Scotiabank dropped their target price on shares of Nextracker from $55.00 to $50.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.52.

Institutional Trading of Nextracker

Several institutional investors have recently made changes to their positions in the business. 1832 Asset Management L.P. boosted its position in shares of Nextracker by 0.3% during the 1st quarter. 1832 Asset Management L.P. now owns 80,190 shares of the company’s stock valued at $4,512,000 after acquiring an additional 275 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Nextracker during the 1st quarter valued at about $25,000. Keybank National Association OH boosted its position in shares of Nextracker by 7.1% during the 3rd quarter. Keybank National Association OH now owns 6,825 shares of the company’s stock valued at $274,000 after acquiring an additional 455 shares in the last quarter. Paradice Investment Management LLC boosted its position in shares of Nextracker by 9.3% during the 1st quarter. Paradice Investment Management LLC now owns 5,682 shares of the company’s stock valued at $320,000 after acquiring an additional 482 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Nextracker by 3.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company’s stock valued at $652,000 after acquiring an additional 541 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

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.