Nextracker Inc. (NASDAQ:NXT) Shares Bought by XTX Topco Ltd

XTX Topco Ltd lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 111.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,463 shares of the company’s stock after acquiring an additional 24,451 shares during the quarter. XTX Topco Ltd’s holdings in Nextracker were worth $2,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 purchasing an additional 275 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. Hilltop National Bank grew its position in Nextracker by 40.6% in the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after buying an additional 343 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock valued at $1,613,000 after buying an additional 372 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Nextracker during the 1st quarter valued at $25,000. Institutional investors own 67.41% of the company’s stock.

Nextracker Trading Down 1.3 %

Shares of NASDAQ NXT opened at $36.84 on Thursday. The business has a 50 day simple moving average of $41.63 and a 200 day simple moving average of $48.07. Nextracker Inc. has a 52 week low of $32.14 and a 52 week high of $62.31. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 5.16 and a beta of 2.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.11.

Nextracker (NASDAQ:NXT) last posted its earnings results on Thursday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.27. Nextracker had a net margin of 14.87% and a negative return on equity of 36.33%. The firm had revenue of $719.92 million during the quarter, compared to analysts’ expectations of $616.71 million. During the same period in the previous year, the company earned $0.48 earnings per share. The company’s revenue was up 50.1% compared to the same quarter last year. On average, research analysts predict that Nextracker Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NXT. JPMorgan Chase & Co. cut their target price on Nextracker from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Bank of America boosted their price objective on Nextracker from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Barclays decreased their target price on shares of Nextracker from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Guggenheim cut their price target on shares of Nextracker from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of Nextracker in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.91.

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.