12,308 Shares in Nextracker Inc. (NASDAQ:NXT) Purchased by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. acquired a new stake in shares of Nextracker Inc. (NASDAQ:NXT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,308 shares of the company’s stock, valued at approximately $450,000.

Several other large investors have also bought and sold shares of NXT. Holocene Advisors LP purchased a new stake in shares of Nextracker during the third quarter valued at $45,416,000. Erste Asset Management GmbH purchased a new stake in shares of Nextracker during the 3rd quarter valued at about $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nextracker by 88.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591,975 shares of the company’s stock worth $59,667,000 after acquiring an additional 745,665 shares during the period. State Street Corp grew its position in Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock worth $190,041,000 after purchasing an additional 690,343 shares during the period. Finally, Wellington Management Group LLP increased its position in Nextracker by 25.5% during the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock valued at $127,169,000 after acquiring an additional 688,810 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial boosted their price target on Nextracker from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen started coverage on Nextracker in a research note on Thursday, December 19th. They issued a “hold” rating and a $41.00 price target for the company. Susquehanna lowered their price objective on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Northland Securities reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Nextracker in a research note on Tuesday, November 19th. Finally, Guggenheim reissued a “buy” rating and set a $55.00 target price on shares of Nextracker in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.10.

Nextracker Price Performance

Shares of NXT opened at $41.20 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. The company has a 50 day moving average price of $38.73 and a 200-day moving average price of $39.26. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The stock has a market capitalization of $6.00 billion, a PE ratio of 10.27 and a beta of 2.04.

Insider Activity at Nextracker

In other Nextracker news, President Howard Wenger sold 6,066 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the sale, the president now directly owns 209,365 shares in the company, valued at $9,421,425. This trade represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

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.