Baader Bank Aktiengesellschaft Makes New $211,000 Investment in Nextracker Inc. (NASDAQ:NXT)

Baader Bank Aktiengesellschaft acquired a new stake in Nextracker Inc. (NASDAQ:NXT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,500 shares of the company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Van ECK Associates Corp acquired a new stake in shares of Nextracker in the 4th quarter valued at about $2,176,000. Moody Aldrich Partners LLC increased its position in Nextracker by 117.0% in the 4th quarter. Moody Aldrich Partners LLC now owns 134,357 shares of the company’s stock valued at $6,295,000 after acquiring an additional 72,441 shares during the period. Federated Hermes Inc. raised its stake in Nextracker by 113.9% during the 4th quarter. Federated Hermes Inc. now owns 230,186 shares of the company’s stock valued at $10,784,000 after acquiring an additional 122,554 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Nextracker by 330.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 388,364 shares of the company’s stock worth $18,195,000 after acquiring an additional 298,088 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in shares of Nextracker by 43.8% during the third quarter. Alps Advisors Inc. now owns 188,457 shares of the company’s stock worth $7,568,000 after purchasing an additional 57,371 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nextracker

In other Nextracker news, insider Leah Schlesinger sold 2,149 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Leah Schlesinger sold 2,149 shares of the business’s stock in a transaction dated 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 approximately $618,248.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Nicholas Marco Miller sold 8,355 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $52.67, for a total transaction of $440,057.85. Following the transaction, the chief operating officer now directly 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 insiders.

Nextracker Stock Down 4.7 %

Shares of Nextracker stock traded down $2.17 during trading hours on Thursday, hitting $43.81. The company’s stock had a trading volume of 6,051,722 shares, compared to its average volume of 4,171,684. The company has a market capitalization of $5.98 billion, a PE ratio of 23.13, a P/E/G ratio of 0.38 and a beta of 2.42. The business has a fifty day moving average of $50.40 and a 200 day moving average of $47.68. Nextracker Inc. has a 1-year low of $32.14 and a 1-year high of $62.14.

Analysts Set New Price Targets

Several research analysts recently issued reports on NXT shares. JPMorgan Chase & Co. cut their price target on shares of Nextracker from $73.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Citigroup increased their price target on shares of Nextracker from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Barclays downgraded shares of Nextracker from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $55.00 to $63.00 in a report on Tuesday, April 2nd. Daiwa Capital Markets started coverage on shares of Nextracker in a report on Monday, April 1st. They issued an “outperform” rating and a $63.00 target price for the company. Finally, Piper Sandler decreased their price target on Nextracker from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.96.

About Nextracker

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.