First Dallas Securities Inc. Makes New Investment in Nextracker Inc. (NASDAQ:NXT)

First Dallas Securities Inc. bought a new position in Nextracker Inc. (NASDAQ:NXT) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,195 shares of the company’s stock, valued at approximately $236,000.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in Nextracker in the 1st quarter worth $37,000. Wahed Invest LLC acquired a new position in shares of Nextracker in the fourth quarter worth about $43,000. Parallel Advisors LLC boosted its holdings in Nextracker by 49.4% in the fourth quarter. Parallel Advisors LLC now owns 2,850 shares of the company’s stock valued at $134,000 after purchasing an additional 942 shares during the last quarter. Quarry LP grew its stake in Nextracker by 197.5% during the 4th quarter. Quarry LP now owns 1,428 shares of the company’s stock valued at $67,000 after purchasing an additional 948 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in Nextracker during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Insider Activity at Nextracker

In other Nextracker news, insider Bruce Ledesma sold 12,135 shares of the business’s stock in a transaction on Monday, May 20th. The stock was 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 approximately $763,463.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Leah Schlesinger sold 2,149 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $51.91, for a total value of $111,554.59. Following the completion of the transaction, the insider now directly owns 11,910 shares in the company, valued at $618,248.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bruce Ledesma sold 12,135 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.91, for a total value of $532,847.85. Following the sale, the insider now directly owns 17,387 shares in the company, valued at approximately $763,463.17. The disclosure for this sale can be found here. Insiders have sold a total of 22,639 shares of company stock worth $1,084,460 in the last three months. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NXT shares. Scotiabank reduced their target price on Nextracker from $55.00 to $50.00 and set a “sector outperform” rating for the company in a research note on Monday, April 29th. Northland Securities downgraded shares of Nextracker from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $60.00 to $44.00 in a research note on Friday, April 26th. Guggenheim dropped their target price on shares of Nextracker from $73.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Mizuho cut their target price on shares of Nextracker from $64.00 to $59.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Robert W. Baird assumed coverage on Nextracker in a research note on Thursday, March 21st. They issued an “outperform” rating and a $71.00 price target for the company. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.54.

Nextracker Stock Down 4.6 %

Nextracker stock opened at $46.88 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.76 and a current ratio of 1.98. Nextracker Inc. has a one year low of $32.14 and a one year high of $62.31. The company has a 50-day simple moving average of $50.32 and a 200-day simple moving average of $51.15. The firm has a market capitalization of $6.80 billion, a P/E ratio of 13.95 and a beta of 2.66.

Nextracker (NASDAQ:NXT) last posted its earnings results on Tuesday, May 14th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.47 by $0.38. The firm had revenue of $736.52 million during the quarter, compared to analysts’ expectations of $681.03 million. Nextracker had a net margin of 12.25% and a negative return on equity of 13.70%. As a group, equities analysts expect that Nextracker Inc. will post 2.23 earnings per share for the current year.

About Nextracker

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.