Hilltop National Bank Buys 343 Shares of Nextracker Inc. (NASDAQ:NXT)

Hilltop National Bank grew its stake in Nextracker Inc. (NASDAQ:NXT) by 40.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,187 shares of the company’s stock after buying an additional 343 shares during the quarter. Hilltop National Bank’s holdings in Nextracker were worth $56,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Nextracker in the 1st quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 73.2% in the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Lindbrook Capital LLC acquired a new position in shares of Nextracker during the first quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new position in shares of Nextracker during the first quarter worth about $37,000. Finally, Toth Financial Advisory Corp bought a new position in shares of Nextracker during the first quarter worth about $38,000. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NXT shares. Scotiabank lowered their price objective on shares of Nextracker from $55.00 to $50.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. Barclays cut their price target on shares of Nextracker from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Mizuho decreased their price objective on Nextracker from $64.00 to $59.00 and set a “buy” rating for the company in a report on Friday, April 19th. Fox Advisors raised Nextracker from an “equal weight” rating to an “overweight” rating and set a $60.00 price target on the stock in a research report on Wednesday, May 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $55.00 price objective on shares of Nextracker in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.68.

Insider Buying and Selling

In related news, insider Bruce Ledesma sold 12,135 shares of Nextracker stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $43.91, for a total transaction of $532,847.85. Following the sale, the insider now directly owns 17,387 shares in the company, valued at $763,463.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Nextracker Stock Down 0.5 %

NASDAQ:NXT traded down $0.21 on Wednesday, hitting $39.83. The stock had a trading volume of 4,323,380 shares, compared to its average volume of 4,080,096. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.76 and a current ratio of 1.98. The stock has a market cap of $5.78 billion, a P/E ratio of 11.85 and a beta of 2.49. Nextracker Inc. has a 1 year low of $32.14 and a 1 year high of $62.31. The firm’s fifty day simple moving average is $50.71 and its two-hundred day simple moving average is $51.54.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.27. The company had revenue of $719.92 million during the quarter, compared to analyst estimates of $616.71 million. Nextracker had a net margin of 14.87% and a negative return on equity of 20.75%. Nextracker’s quarterly revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Analysts predict that Nextracker Inc. will post 2.62 earnings per share for the current year.

Nextracker Company Profile

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.