Mutual of America Capital Management LLC Has $3.89 Million Stake in Nextracker Inc. $NXT

Mutual of America Capital Management LLC trimmed its position in Nextracker Inc. (NASDAQ:NXT) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,467 shares of the company’s stock after selling 2,498 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Nextracker were worth $3,886,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NXT. GAMMA Investing LLC raised its stake in shares of Nextracker by 189.8% in the first quarter. GAMMA Investing LLC now owns 2,736 shares of the company’s stock valued at $115,000 after purchasing an additional 1,792 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Nextracker by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 16,830 shares of the company’s stock worth $709,000 after acquiring an additional 440 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Nextracker during the first quarter worth $210,000. Oppenheimer Asset Management Inc. raised its stake in Nextracker by 5.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 53,531 shares of the company’s stock worth $2,256,000 after acquiring an additional 2,766 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Nextracker during the first quarter worth $3,628,000. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NXT shares. Susquehanna increased their price objective on Nextracker from $76.00 to $100.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. Bank of America increased their price objective on Nextracker from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on Nextracker in a research note on Tuesday, September 30th. They set a “buy” rating and a $88.00 price objective for the company. Wells Fargo & Company increased their price objective on Nextracker from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Northland Capmk lowered Nextracker from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.29.

Insiders Place Their Bets

In other news, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $56.79, for a total transaction of $567,900.00. Following the sale, the director owned 7,666 shares of the company’s stock, valued at $435,352.14. This trade represents a 56.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles D. Boynton sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $67.21, for a total value of $302,445.00. Following the transaction, the chief financial officer directly owned 295,059 shares in the company, valued at $19,830,915.39. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,400 shares of company stock worth $2,053,385. 0.56% of the stock is owned by company insiders.

Nextracker Stock Up 3.2%

Nextracker stock opened at $90.38 on Friday. The business’s 50-day simple moving average is $73.96 and its 200 day simple moving average is $60.87. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 2.18 and a beta of 2.27. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $93.90.

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.