North Point Portfolio Managers Corp OH Has $6.16 Million Stake in Nextracker Inc. (NASDAQ:NXT)

North Point Portfolio Managers Corp OH increased its stake in Nextracker Inc. (NASDAQ:NXT) by 56.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,526 shares of the company’s stock after acquiring an additional 60,970 shares during the quarter. North Point Portfolio Managers Corp OH owned 0.12% of Nextracker worth $6,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP lifted its stake in Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after purchasing an additional 426 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Nextracker by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after purchasing an additional 549 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Nextracker in the third quarter valued at approximately $74,000. Finally, Arcadia Investment Management Corp MI purchased a new stake in shares of Nextracker during the 3rd quarter valued at $75,000. Institutional investors own 67.41% of the company’s stock.

Insider Activity

In related news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction dated 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 directly owns 209,365 shares of the company’s stock, valued at $9,421,425. This represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NXT shares. The Goldman Sachs Group reduced their target price on shares of Nextracker from $63.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. TD Cowen assumed coverage on shares of Nextracker in a report on Thursday, December 19th. They issued a “hold” rating and a $41.00 price target on the stock. Guggenheim reiterated a “buy” rating and set a $55.00 target price on shares of Nextracker in a report on Friday, November 22nd. Citigroup lowered their price target on shares of Nextracker from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company dropped their target price on Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.10.

Nextracker Trading Down 2.1 %

NASDAQ NXT opened at $41.00 on Monday. The stock has a market cap of $5.97 billion, a PE ratio of 10.22 and a beta of 2.04. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. The company’s 50-day moving average price is $38.86 and its 200-day moving average price is $39.10. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.

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.