Nextracker (NASDAQ:NXT) CFO Sells $302,445.00 in Stock

Nextracker Inc. (NASDAQ:NXT) CFO Charles Boynton sold 4,500 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $67.21, for a total value of $302,445.00. Following the completion of the transaction, the chief financial officer owned 295,059 shares in the company, valued at $19,830,915.39. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Nextracker Stock Performance

Shares of NXT opened at $68.71 on Thursday. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.55 and a beta of 2.26. The business’s fifty day moving average price is $63.14 and its two-hundred day moving average price is $54.23. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $71.44.

Institutional Investors Weigh In On Nextracker

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its position in Nextracker by 56.0% during the fourth quarter. Bank of America Corp DE now owns 715,835 shares of the company’s stock valued at $26,149,000 after purchasing an additional 257,064 shares in the last quarter. Captrust Financial Advisors raised its position in Nextracker by 131.5% during the fourth quarter. Captrust Financial Advisors now owns 13,468 shares of the company’s stock valued at $492,000 after purchasing an additional 7,650 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Nextracker during the fourth quarter valued at approximately $230,000. Nomura Holdings Inc. acquired a new position in Nextracker during the fourth quarter valued at approximately $695,000. Finally, ProShare Advisors LLC raised its position in Nextracker by 40.0% during the fourth quarter. ProShare Advisors LLC now owns 50,368 shares of the company’s stock valued at $1,840,000 after purchasing an additional 14,387 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Susquehanna raised their price target on Nextracker from $66.00 to $76.00 and gave the stock a “positive” rating in a research report on Monday, July 21st. Northland Securities reaffirmed a “market perform” rating on shares of Nextracker in a research note on Wednesday, July 30th. Zacks Research raised Nextracker to a “hold” rating in a research note on Tuesday, August 12th. Bank of America raised their price objective on Nextracker from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Guggenheim raised Nextracker from a “neutral” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Nextracker Company 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.