10,296 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Corbyn Investment Management Inc. MD

Corbyn Investment Management Inc. MD acquired a new stake in Nextracker Inc. (NASDAQ:NXT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,296 shares of the company’s stock, valued at approximately $482,000.

Other large investors have also recently added to or reduced their stakes in the company. Keybank National Association OH boosted its stake in shares of Nextracker by 7.1% in the third quarter. Keybank National Association OH now owns 6,825 shares of the company’s stock valued at $274,000 after buying an additional 455 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Nextracker by 3.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company’s stock valued at $652,000 after acquiring an additional 541 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of Nextracker during the 3rd quarter valued at $42,000. Global Retirement Partners LLC bought a new stake in shares of Nextracker during the 4th quarter valued at $63,000. Finally, Moody Aldrich Partners LLC grew its holdings in shares of Nextracker by 3.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 61,916 shares of the company’s stock worth $2,487,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Insider Transactions at Nextracker

In other news, COO Nicholas Marco Miller sold 8,355 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total value of $440,057.85. Following the transaction, the chief operating officer now owns 11,114 shares in the company, valued at approximately $585,374.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Leah Schlesinger sold 2,149 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $51.91, for a total value of $111,554.59. Following the transaction, the insider now directly owns 11,910 shares of the company’s stock, valued at approximately $618,248.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Nicholas Marco Miller sold 8,355 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $52.67, for a total value of $440,057.85. Following the sale, the chief operating officer now owns 11,114 shares in the company, valued at approximately $585,374.38. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

Nextracker Stock Performance

Shares of NASDAQ:NXT traded up $0.83 during mid-day trading on Friday, reaching $43.81. 1,310,578 shares of the company’s stock were exchanged, compared to its average volume of 4,157,331. Nextracker Inc. has a twelve month low of $29.28 and a twelve month high of $62.14. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 0.37 and a beta of 1.94. The business’s fifty day moving average price is $54.39 and its 200-day moving average price is $46.77.

Nextracker (NASDAQ:NXT) last announced its earnings results on Wednesday, January 31st. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.51. The business had revenue of $710.43 million during the quarter, compared to analyst estimates of $615.53 million. Nextracker had a negative return on equity of 5.98% and a net margin of 4.48%. Analysts predict that Nextracker Inc. will post 2.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NXT shares. Robert W. Baird began coverage on shares of Nextracker in a research report on Thursday, March 21st. They set an “outperform” rating and a $71.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of Nextracker from $73.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Guggenheim lowered their price objective on shares of Nextracker from $73.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday. Northland Securities downgraded Nextracker from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $60.00 to $44.00 in a report on Friday. Finally, Piper Sandler lowered their price target on Nextracker from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Nextracker presently has an average rating of “Moderate Buy” and a consensus target price of $58.55.

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.