Parallel Advisors LLC Acquires 942 Shares of Nextracker Inc. (NASDAQ:NXT)

Parallel Advisors LLC raised its holdings in Nextracker Inc. (NASDAQ:NXTFree Report) by 49.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,850 shares of the company’s stock after buying an additional 942 shares during the period. Parallel Advisors LLC’s holdings in Nextracker were worth $134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in shares of Nextracker in the third quarter valued at approximately $42,000. Global Retirement Partners LLC acquired a new position in shares of Nextracker in the fourth quarter valued at approximately $63,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Nextracker in the fourth quarter valued at approximately $211,000. Mackenzie Financial Corp acquired a new position in shares of Nextracker in the fourth quarter valued at approximately $232,000. Finally, Principal Financial Group Inc. acquired a new stake in Nextracker during the third quarter worth approximately $208,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Performance

NXT stock opened at $53.80 on Wednesday. The stock has a 50-day moving average price of $48.49 and a 200-day moving average price of $49.33. Nextracker Inc. has a 1-year low of $32.14 and a 1-year high of $62.14. The company has a current ratio of 1.98, a quick ratio of 1.76 and a debt-to-equity ratio of 0.15. The firm has a market cap of $7.35 billion, a PE ratio of 16.01 and a beta of 2.66.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and set a $70.00 price target on shares of Nextracker in a research report on Wednesday, May 15th. Mizuho reduced their price target on Nextracker from $64.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. JPMorgan Chase & Co. reduced their price target on Nextracker from $73.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Scotiabank reduced their price target on Nextracker from $55.00 to $50.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th. Finally, Piper Sandler reduced their price target on Nextracker from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.52.

Get Our Latest Stock Analysis on NXT

Insider Transactions at Nextracker

In other news, insider Leah Schlesinger sold 2,149 shares of Nextracker stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $51.91, for a total value of $111,554.59. Following the completion of the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at approximately $618,248.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Leah Schlesinger sold 2,149 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $51.91, for a total value of $111,554.59. Following the completion of the sale, the insider now directly owns 11,910 shares in the company, valued at approximately $618,248.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Nicholas Marco Miller sold 8,355 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total value of $440,057.85. Following the completion of the sale, the chief operating officer now owns 11,114 shares of the company’s stock, valued at $585,374.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,639 shares of company stock valued at $1,084,460. Corporate insiders own 0.09% of the company’s stock.

About Nextracker

(Free Report)

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; 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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Institutional Ownership by Quarter for Nextracker (NASDAQ:NXT)

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