Trust Investment Advisors Sells 223 Shares of Nextracker Inc. $NXT

Trust Investment Advisors reduced its position in shares of Nextracker Inc. (NASDAQ:NXT) by 2.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,386 shares of the company’s stock after selling 223 shares during the period. Trust Investment Advisors’ holdings in Nextracker were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. grew its holdings in shares of Nextracker by 122.3% during the second quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nextracker by 703.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after purchasing an additional 577 shares during the last quarter. Summit Securities Group LLC grew its holdings in shares of Nextracker by 796.0% during the first quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after purchasing an additional 804 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Nextracker during the first quarter worth about $40,000. Finally, Quarry LP grew its holdings in shares of Nextracker by 438.5% during the first quarter. Quarry LP now owns 1,917 shares of the company’s stock worth $81,000 after purchasing an additional 1,561 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nextracker news, insider Bruce Ledesma sold 6,980 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $56.24, for a total value of $392,555.20. Following the transaction, the insider directly owned 195,790 shares of the company’s stock, valued at approximately $11,011,229.60. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the completion of the transaction, the director directly owned 7,666 shares in the company, valued at approximately $435,352.14. This trade represents a 56.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,400 shares of company stock valued at $2,053,385 in the last ninety days. 0.56% of the stock is owned by corporate insiders.

Nextracker Stock Performance

Shares of NXT opened at $98.55 on Tuesday. Nextracker Inc. has a 52-week low of $31.18 and a 52-week high of $101.98. The business’s 50 day moving average price is $75.33 and its two-hundred day moving average price is $62.03. The firm has a market cap of $14.58 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.45 and a beta of 2.27.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Nextracker in a report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Nextracker from $84.00 to $104.00 and gave the stock a “buy” rating in a report on Friday. Northland Capmk lowered Nextracker from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Roth Capital set a $120.00 price objective on Nextracker in a research note on Friday. Finally, Wells Fargo & Company lifted their price objective on Nextracker from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Nextracker presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.38.

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.