Signaturefd LLC Has $168,000 Stake in Nextracker Inc. $NXT

Signaturefd LLC raised its stake in Nextracker Inc. (NASDAQ:NXT) by 20.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,099 shares of the company’s stock after purchasing an additional 516 shares during the period. Signaturefd LLC’s holdings in Nextracker were worth $168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Flputnam Investment Management Co. increased its holdings in shares of Nextracker by 2.4% in the first quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company’s stock valued at $363,000 after purchasing an additional 201 shares during the last quarter. Trust Investment Advisors increased its holdings in shares of Nextracker by 2.8% in the first quarter. Trust Investment Advisors now owns 9,609 shares of the company’s stock valued at $405,000 after purchasing an additional 258 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Nextracker by 27.5% in the first quarter. Fifth Third Bancorp now owns 1,204 shares of the company’s stock valued at $51,000 after purchasing an additional 260 shares during the last quarter. Boston Partners increased its holdings in shares of Nextracker by 2.7% in the first quarter. Boston Partners now owns 10,494 shares of the company’s stock valued at $442,000 after purchasing an additional 280 shares during the last quarter. Finally, Trium Capital LLP increased its holdings in shares of Nextracker by 4.0% in the first quarter. Trium Capital LLP now owns 7,969 shares of the company’s stock valued at $336,000 after purchasing an additional 303 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Northland Capmk downgraded shares of Nextracker from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Wall Street Zen raised shares of Nextracker from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Susquehanna boosted their target price on shares of Nextracker from $66.00 to $76.00 and gave the company a “positive” rating in a research report on Monday, July 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Nextracker in a research report on Saturday, September 27th. Finally, UBS Group boosted their target price on shares of Nextracker from $71.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

Nextracker Trading Down 2.8%

NXT stock opened at $77.13 on Friday. The stock has a market capitalization of $11.41 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.50 and a beta of 2.27. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $80.83. The firm has a 50-day moving average price of $65.99 and a 200-day moving average price of $56.74.

Insider Activity at Nextracker

In other news, CFO Charles D. Boynton sold 4,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $19,830,915.39. This represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bruce Ledesma sold 6,980 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $56.24, for a total transaction of $392,555.20. Following the completion of the transaction, the insider directly owned 195,790 shares of the company’s stock, valued at $11,011,229.60. This trade represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,400 shares of company stock worth $2,053,385 over the last three months. 0.56% of the stock is owned by insiders.

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.