Crossmark Global Holdings Inc. lessened its stake in Nextracker Inc. (NASDAQ:NXT – Free Report) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,183 shares of the company’s stock after selling 643 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Nextracker were worth $263,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP lifted its holdings in shares of Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after buying an additional 426 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after buying an additional 549 shares during the period. Neo Ivy Capital Management acquired a new position in Nextracker in the 3rd quarter worth about $74,000. Arcadia Investment Management Corp MI acquired a new position in Nextracker in the 3rd quarter worth about $75,000. Finally, Signaturefd LLC raised its holdings in Nextracker by 37.8% in the 3rd quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock worth $77,000 after purchasing an additional 560 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.
Analyst Ratings Changes
NXT has been the subject of a number of analyst reports. Truist Financial upped their price target on Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Northland Capmk raised Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group reduced their price target on Nextracker from $63.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. TD Cowen began coverage on Nextracker in a research note on Thursday, December 19th. They set a “hold” rating and a $41.00 price objective for the company. Finally, Bank of America cut their price objective on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.10.
Insiders Place Their Bets
In related news, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction that occurred 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 transaction, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.
Nextracker Price Performance
Shares of NASDAQ:NXT opened at $39.63 on Tuesday. The firm’s 50 day moving average is $38.86 and its two-hundred day moving average is $39.10. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The firm has a market capitalization of $5.77 billion, a P/E ratio of 9.88 and a beta of 2.04. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.
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.
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