Penserra Capital Management LLC Makes New Investment in Nextracker Inc. $NXT

Penserra Capital Management LLC acquired a new stake in Nextracker Inc. (NASDAQ:NXT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,432 shares of the company’s stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Nextracker by 56.5% during the first quarter. Wellington Management Group LLP now owns 5,237,833 shares of the company’s stock worth $220,722,000 after buying an additional 1,890,445 shares in the last quarter. Encompass Capital Advisors LLC increased its position in shares of Nextracker by 72.5% in the first quarter. Encompass Capital Advisors LLC now owns 2,630,114 shares of the company’s stock worth $110,833,000 after acquiring an additional 1,105,617 shares in the last quarter. Earnest Partners LLC boosted its stake in Nextracker by 4.4% in the 1st quarter. Earnest Partners LLC now owns 1,309,424 shares of the company’s stock worth $55,179,000 after purchasing an additional 54,934 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Nextracker by 2.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,243,151 shares of the company’s stock valued at $52,386,000 after purchasing an additional 33,537 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nextracker by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,138,496 shares of the company’s stock valued at $61,900,000 after buying an additional 35,642 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insider Activity at Nextracker

In related news, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $67.21, for a total transaction of $302,445.00. Following the transaction, the chief financial officer owned 295,059 shares of the company’s stock, valued at approximately $19,830,915.39. The trade was a 1.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Howard Wenger sold 5,217 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $75.00, for a total transaction of $391,275.00. Following the transaction, the president owned 409,039 shares of the company’s stock, valued at approximately $30,677,925. The trade was a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 15,420 shares of company stock valued at $1,092,930. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NXT has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Nextracker from $89.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Mizuho set a $76.00 price objective on Nextracker in a research report on Monday, October 20th. Wells Fargo & Company upped their target price on Nextracker from $72.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Roth Capital reaffirmed a “buy” rating and set a $120.00 price target on shares of Nextracker in a research note on Thursday. Finally, Barclays increased their price objective on Nextracker from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.19.

Nextracker Trading Down 8.7%

Shares of Nextracker stock opened at $88.09 on Friday. The firm has a fifty day simple moving average of $84.29 and a 200-day simple moving average of $67.42. Nextracker Inc. has a 1-year low of $33.29 and a 1-year high of $112.74. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.41 and a beta of 2.31.

Nextracker (NASDAQ:NXT) last announced its earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.98 by $0.21. The firm had revenue of $905.27 million for the quarter, compared to the consensus estimate of $839.53 million. Nextracker had a net margin of 17.08% and a return on equity of 35.05%. Nextracker has set its FY 2026 guidance at 4.040-4.250 EPS. As a group, research analysts predict that Nextracker Inc. will post 3.29 earnings per share for the current year.

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.