Lisanti Capital Growth LLC Has $3.70 Million Stake in Nextracker Inc. (NASDAQ:NXT)

Lisanti Capital Growth LLC decreased its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 38.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 78,900 shares of the company’s stock after selling 49,160 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Nextracker were worth $3,696,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tucker Asset Management LLC bought a new position in shares of Nextracker during the 3rd quarter worth about $42,000. Global Retirement Partners LLC bought a new stake in Nextracker in the fourth quarter valued at about $63,000. Trium Capital LLP bought a new stake in Nextracker in the third quarter valued at about $101,000. Strs Ohio bought a new stake in Nextracker in the third quarter valued at about $104,000. Finally, New York State Teachers Retirement System bought a new stake in Nextracker in the third quarter valued at about $155,000. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Up 1.7 %

NASDAQ NXT traded up $0.79 during trading hours on Monday, hitting $46.89. The company’s stock had a trading volume of 1,852,686 shares, compared to its average volume of 4,058,541. Nextracker Inc. has a twelve month low of $30.69 and a twelve month high of $62.14. The firm has a market capitalization of $6.40 billion, a P/E ratio of 25.07, a PEG ratio of 0.40 and a beta of 2.42. The stock has a fifty day moving average of $52.35 and a 200 day moving average of $47.37.

Insider Buying and Selling at Nextracker

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

Analysts Set New Price Targets

NXT has been the topic of a number of analyst reports. Robert W. Baird initiated coverage on shares of Nextracker in a research note on Thursday, March 21st. They issued an “outperform” rating and a $71.00 target price on the stock. Daiwa Capital Markets assumed coverage on shares of Nextracker in a research note on Monday, April 1st. They issued an “outperform” rating and a $63.00 target price on the stock. BMO Capital Markets assumed coverage on shares of Nextracker in a research report on Friday, March 22nd. They issued a “market perform” rating and a $69.00 price target on the stock. Northland Securities lowered shares of Nextracker from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $60.00 to $44.00 in a research report on Friday, April 26th. Finally, Roth Mkm boosted their price target on shares of Nextracker from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.17.

Nextracker 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.