Hilltop National Bank Invests $140,000 in Nextracker Inc. $NXT

Hilltop National Bank bought a new stake in Nextracker Inc. (NASDAQ:NXT) in the second quarter, HoldingsChannel reports. The fund bought 2,580 shares of the company’s stock, valued at approximately $140,000.

A number of other large investors also recently bought and sold shares of the stock. New York State Teachers Retirement System grew its stake in shares of Nextracker by 18.2% during the 1st quarter. New York State Teachers Retirement System now owns 125,005 shares of the company’s stock valued at $5,268,000 after buying an additional 19,247 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Nextracker during the first quarter valued at about $210,000. Allspring Global Investments Holdings LLC increased its stake in Nextracker by 51.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 19,735 shares of the company’s stock worth $850,000 after acquiring an additional 6,693 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Nextracker by 189.8% in the 1st quarter. GAMMA Investing LLC now owns 2,736 shares of the company’s stock worth $115,000 after purchasing an additional 1,792 shares during the period. Finally, KBC Group NV lifted its stake in shares of Nextracker by 719.8% in the 1st quarter. KBC Group NV now owns 49,908 shares of the company’s stock valued at $2,103,000 after purchasing an additional 43,820 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

NXT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Nextracker in a research report on Tuesday. They set a “buy” rating and a $88.00 target price for the company. Roth Capital reissued a “buy” rating and issued a $80.00 price objective (up previously from $70.00) on shares of Nextracker in a research report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Nextracker from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nextracker in a research report on Saturday, September 27th. Finally, Mizuho set a $66.00 price objective on Nextracker in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.10.

Nextracker Price Performance

Shares of NXT stock opened at $77.13 on Friday. The company’s fifty day moving average price is $65.99 and its two-hundred day moving average price is $56.82. The firm has a market capitalization of $11.41 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.43 and a beta of 2.27. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $80.83.

Insiders Place Their Bets

In other Nextracker news, CFO Charles D. Boynton sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $67.21, for a total transaction of $302,445.00. Following the completion of the sale, the chief financial officer owned 295,059 shares in the company, valued at $19,830,915.39. This trade represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Watkins sold 10,000 shares of Nextracker stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $56.79, for a total value of $567,900.00. Following the sale, the director owned 7,666 shares in the company, valued at $435,352.14. This represents a 56.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,400 shares of company stock worth $2,053,385. Company insiders own 0.56% of the company’s stock.

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.