KLP Kapitalforvaltning AS Has $1.64 Million Stake in Nextracker Inc. $NXT

KLP Kapitalforvaltning AS raised its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 6.0% in the second quarter, Holdings Channel.com reports. The firm owned 30,095 shares of the company’s stock after buying an additional 1,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Nextracker were worth $1,636,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Flputnam Investment Management Co. lifted its position in shares of Nextracker by 2.4% during the 1st quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company’s stock worth $363,000 after buying an additional 201 shares in the last quarter. Signaturefd LLC lifted its position in shares of Nextracker by 10.2% during the 1st quarter. Signaturefd LLC now owns 2,583 shares of the company’s stock worth $109,000 after buying an additional 239 shares in the last quarter. Trust Investment Advisors lifted its position in shares of Nextracker by 2.8% during the 1st quarter. Trust Investment Advisors now owns 9,609 shares of the company’s stock worth $405,000 after buying an additional 258 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Nextracker by 27.5% during the 1st quarter. Fifth Third Bancorp now owns 1,204 shares of the company’s stock worth $51,000 after buying an additional 260 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of Nextracker by 2.7% in the 1st quarter. Boston Partners now owns 10,494 shares of the company’s stock worth $442,000 after purchasing an additional 280 shares during the period. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Roth Capital reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $70.00) on shares of Nextracker in a report on Tuesday, July 29th. Mizuho set a $66.00 price target on shares of Nextracker in a report on Wednesday, July 30th. Northland Securities reaffirmed a “market perform” rating on shares of Nextracker in a report on Wednesday, July 30th. Wall Street Zen cut shares of Nextracker from a “strong-buy” rating to a “buy” rating in a report on Monday, October 6th. Finally, Barclays reaffirmed an “overweight” rating and issued a $92.00 price target on shares of Nextracker in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.15.

Nextracker Trading Down 1.3%

Nextracker stock opened at $82.80 on Monday. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $86.39. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 2.57 and a beta of 2.27. The firm has a 50 day simple moving average of $67.93 and a 200 day simple moving average of $58.16.

Insider Buying and Selling at Nextracker

In related news, Director William D. Watkins sold 10,000 shares of Nextracker stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $56.79, for a total value of $567,900.00. Following the completion of the transaction, the director directly owned 7,666 shares in the company, valued at approximately $435,352.14. The trade was a 56.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce Ledesma sold 6,980 shares of Nextracker stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $56.24, for a total transaction of $392,555.20. Following the completion of the transaction, the insider owned 195,790 shares of the company’s stock, valued at $11,011,229.60. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,400 shares of company stock valued at $2,053,385 over the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

About Nextracker

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.