Altshuler Shaham Ltd Invests $68,000 in Nextracker Inc. (NASDAQ:NXT)

Altshuler Shaham Ltd bought a new stake in Nextracker Inc. (NASDAQ:NXT) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,850 shares of the company’s stock, valued at approximately $68,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in Nextracker by 52.4% during the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after purchasing an additional 276 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Nextracker by 448.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock worth $47,000 after buying an additional 1,055 shares during the period. Millstone Evans Group LLC acquired a new stake in Nextracker in the 4th quarter valued at $48,000. Principal Securities Inc. grew its position in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after acquiring an additional 410 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Nextracker by 92.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company’s stock worth $66,000 after acquiring an additional 873 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Nextracker Price Performance

Shares of NXT stock opened at $40.30 on Friday. The firm’s 50 day moving average price is $43.32 and its two-hundred day moving average price is $40.37. The stock has a market cap of $5.87 billion, a PE ratio of 10.25 and a beta of 2.02. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a return on equity of 41.22% and a net margin of 20.12%. As a group, analysts forecast that Nextracker Inc. will post 3.29 EPS for the current year.

Wall Street Analyst Weigh In

NXT has been the topic of several recent analyst reports. Royal Bank of Canada began coverage on shares of Nextracker in a research note on Monday, March 17th. They issued an “outperform” rating and a $55.00 target price on the stock. Susquehanna boosted their price target on shares of Nextracker from $50.00 to $54.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. BNP Paribas raised Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Robert W. Baird dropped their price target on Nextracker from $59.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.64.

Insider Activity

In related news, insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, the insider now owns 132,374 shares in the company, valued at $6,095,822.70. This represents a 6.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO David P. Bennett sold 9,801 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total value of $489,069.90. Following the sale, the chief accounting officer now directly owns 124,577 shares in the company, valued at $6,216,392.30. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

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.