Goodlander Investment Management LLC Takes Position in Nextracker Inc. (NASDAQ:NXT)

Goodlander Investment Management LLC acquired a new position in Nextracker Inc. (NASDAQ:NXT) during the fourth quarter, Holdings Channel reports. The firm acquired 520,000 shares of the company’s stock, valued at approximately $18,996,000. Nextracker makes up approximately 14.3% of Goodlander Investment Management LLC’s portfolio, making the stock its 3rd biggest holding.

Several other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in shares of Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company’s stock valued at $29,000 after buying an additional 276 shares in the last quarter. Signaturefd LLC increased its stake in Nextracker by 14.7% in the fourth quarter. Signaturefd LLC now owns 2,344 shares of the company’s stock valued at $86,000 after acquiring an additional 301 shares during the last quarter. Principal Securities Inc. raised its position in Nextracker by 41.8% during the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock valued at $51,000 after purchasing an additional 410 shares in the last quarter. Mariner LLC lifted its stake in Nextracker by 4.3% during the fourth quarter. Mariner LLC now owns 11,328 shares of the company’s stock worth $414,000 after purchasing an additional 469 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after purchasing an additional 516 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Insider Buying and Selling

In related news, insider Bruce Ledesma sold 9,891 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $46.05, for a total value of $455,480.55. Following the sale, the insider now directly owns 132,374 shares of the company’s stock, valued at $6,095,822.70. This represents a 6.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NXT shares. BMO Capital Markets boosted their target price on Nextracker from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 29th. Royal Bank of Canada started coverage on shares of Nextracker in a research note on Monday, March 17th. They issued an “outperform” rating and a $55.00 price objective for the company. BNP Paribas upgraded shares of Nextracker to a “strong-buy” rating in a research report on Wednesday, January 29th. Guggenheim upped their price target on shares of Nextracker from $50.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.70.

Nextracker Trading Up 4.3 %

NASDAQ:NXT opened at $46.51 on Friday. The company has a 50-day moving average price of $42.09 and a 200-day moving average price of $41.18. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 11.83 and a beta of 2.03. The company has a current ratio of 2.20, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31.

Nextracker Company 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.