Yousif Capital Management LLC Has $2.09 Million Stock Position in Nextracker Inc. (NASDAQ:NXT)

Yousif Capital Management LLC trimmed its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,543 shares of the company’s stock after selling 1,160 shares during the period. Yousif Capital Management LLC’s holdings in Nextracker were worth $2,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Allworth Financial LP increased its position in Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Sterling Capital Management LLC increased its position in Nextracker by 448.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the company’s stock worth $47,000 after purchasing an additional 1,055 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in Nextracker in the 4th quarter worth about $47,000. Millstone Evans Group LLC acquired a new position in Nextracker in the 4th quarter worth about $48,000. Finally, Principal Securities Inc. increased its position in Nextracker by 41.8% in the 4th quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after purchasing an additional 410 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NXT. Truist Financial upped their target price on Nextracker from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Susquehanna upped their target price on Nextracker from $54.00 to $66.00 and gave the stock a “positive” rating in a research report on Thursday, May 15th. BMO Capital Markets upped their price target on Nextracker from $51.00 to $59.00 and gave the stock a “market perform” rating in a research note on Thursday, May 15th. Barclays upped their price target on Nextracker from $58.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, Royal Bank of Canada started coverage on Nextracker in a research note on Monday, March 17th. They set an “outperform” rating and a $55.00 price target for the company. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Nextracker currently has an average rating of “Moderate Buy” and an average target price of $60.33.

Insider Activity at Nextracker

In related news, COO Nicholas Marco Miller sold 69,774 shares of the firm’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $59.65, for a total transaction of $4,162,019.10. Following the completion of the sale, the chief operating officer now directly owns 175,216 shares of the company’s stock, valued at $10,451,634.40. This trade represents a 28.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $55.00, for a total value of $333,630.00. Following the sale, the president now directly owns 219,389 shares of the company’s stock, valued at $12,066,395. This represents a 2.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,672 shares of company stock valued at $11,510,536 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Nextracker Trading Up 2.2%

NXT stock opened at $60.71 on Monday. The business has a fifty day moving average price of $49.25 and a 200 day moving average price of $44.65. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $63.19. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 15.45 and a beta of 2.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96.

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.