GAMMA Investing LLC Buys 1,792 Shares of Nextracker Inc. (NASDAQ:NXT)

GAMMA Investing LLC increased its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 189.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,736 shares of the company’s stock after acquiring an additional 1,792 shares during the period. GAMMA Investing LLC’s holdings in Nextracker were worth $115,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC increased its position in Nextracker by 448.9% during the fourth 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 last quarter. Virtus Fund Advisers LLC acquired a new position in Nextracker during the fourth quarter worth approximately $47,000. Millstone Evans Group LLC acquired a new position in Nextracker during the fourth quarter worth approximately $48,000. UMB Bank n.a. increased its position in Nextracker by 127.2% during the first quarter. UMB Bank n.a. now owns 1,504 shares of the company’s stock worth $63,000 after buying an additional 842 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position 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 buying an additional 873 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Analysts Set New Price Targets

NXT has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on Nextracker from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. TD Cowen upped their target price on Nextracker from $47.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, May 15th. The Goldman Sachs Group upped their target price on Nextracker from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Royal Bank Of Canada began coverage on Nextracker in a research report on Monday, March 17th. They issued an “outperform” rating and a $55.00 target price on the stock. Finally, Mizuho upped their target price on Nextracker from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Monday, June 2nd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and an average price target of $60.33.

Nextracker Price Performance

NASDAQ NXT opened at $66.27 on Monday. The business has a fifty day moving average price of $55.04 and a two-hundred day moving average price of $47.02. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $66.54. The stock has a market capitalization of $9.69 billion, a PE ratio of 19.10, a PEG ratio of 1.71 and a beta of 2.25.

Insider Transactions at Nextracker

In other news, insider Bruce Ledesma sold 83,561 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $55.71, for a total value of $4,655,183.31. Following the completion of the transaction, the insider directly owned 195,790 shares in the company, valued at approximately $10,907,460.90. This represents a 29.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nicholas Marco Miller sold 69,774 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $59.65, for a total value of $4,162,019.10. Following the completion of the transaction, the chief operating officer owned 175,216 shares of the company’s stock, valued at $10,451,634.40. The trade was a 28.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 210,476 shares of company stock valued at $12,169,880 over the last quarter. 0.56% of the stock is currently owned by 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.