AlphaMark Advisors LLC Takes Position in Nextracker Inc. (NASDAQ:NXT)

AlphaMark Advisors LLC purchased a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,163 shares of the company’s stock, valued at approximately $306,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC raised its stake in shares of Nextracker by 228.3% during the 1st quarter. Virtu Financial LLC now owns 38,393 shares of the company’s stock worth $2,160,000 after purchasing an additional 26,700 shares during the period. Graybill Wealth Management LTD. purchased a new position in Nextracker in the first quarter valued at about $1,643,000. Diversify Advisory Services LLC bought a new position in shares of Nextracker during the 2nd quarter valued at approximately $1,270,000. Commonwealth Equity Services LLC purchased a new stake in shares of Nextracker during the 1st quarter worth approximately $2,819,000. Finally, Sei Investments Co. raised its holdings in shares of Nextracker by 509.6% in the 1st quarter. Sei Investments Co. now owns 244,474 shares of the company’s stock worth $13,757,000 after purchasing an additional 204,369 shares during the period. 67.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on NXT shares. Susquehanna decreased their target price on Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research report on Wednesday. Barclays lowered their price objective on Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Truist Financial cut their target price on shares of Nextracker from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday. Guggenheim dropped their price target on shares of Nextracker from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Jefferies Financial Group assumed coverage on shares of Nextracker in a research note on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.65.

Nextracker Price Performance

NXT stock opened at $33.52 on Friday. The firm has a 50 day simple moving average of $37.31 and a two-hundred day simple moving average of $44.74. The stock has a market cap of $4.87 billion, a PE ratio of 8.89 and a beta of 2.47. Nextracker Inc. has a one year low of $32.19 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.91.

Nextracker (NASDAQ:NXT) last released its earnings results on Thursday, August 1st. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.27. Nextracker had a negative return on equity of 36.33% and a net margin of 14.87%. The business had revenue of $719.92 million for the quarter, compared to analysts’ expectations of $616.71 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was up 50.1% on a year-over-year basis. On average, analysts predict that Nextracker Inc. will post 2.52 EPS for the current fiscal year.

Nextracker 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.