Nextracker (NASDAQ:NXT) Receives “Buy” Rating from Roth Capital

Nextracker (NASDAQ:NXT)‘s stock had its “buy” rating reiterated by Roth Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $120.00 price objective on the stock. Roth Capital’s target price points to a potential upside of 35.69% from the stock’s previous close.

Several other equities research analysts have also recently commented on NXT. Jefferies Financial Group lifted their price target on shares of Nextracker from $84.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Guggenheim set a $74.00 price objective on shares of Nextracker in a research note on Wednesday, October 22nd. Susquehanna upped their target price on shares of Nextracker from $76.00 to $100.00 and gave the company a “positive” rating in a research report on Monday, October 13th. The Goldman Sachs Group increased their price target on Nextracker from $89.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Nextracker from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.05.

Nextracker Stock Down 8.4%

NASDAQ:NXT traded down $8.06 during trading hours on Thursday, hitting $88.44. 1,535,515 shares of the stock were exchanged, compared to its average volume of 2,487,462. The company has a market capitalization of $13.12 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 2.64 and a beta of 2.31. The company’s 50 day moving average is $83.90 and its two-hundred day moving average is $67.28. Nextracker has a twelve month low of $33.29 and a twelve month high of $112.74.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.21. The business had revenue of $905.27 million for the quarter, compared to analyst estimates of $839.53 million. Nextracker had a return on equity of 35.05% and a net margin of 17.08%. Nextracker has set its FY 2026 guidance at 4.040-4.250 EPS. On average, equities research analysts expect that Nextracker will post 3.29 EPS for the current year.

Insider Transactions at Nextracker

In other news, CFO Charles D. Boynton sold 4,500 shares of the 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 completion of the sale, the chief financial officer owned 295,059 shares of the company’s stock, valued at approximately $19,830,915.39. This represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Howard Wenger sold 5,703 shares of Nextracker stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the transaction, the president owned 414,256 shares of the company’s stock, valued at $28,997,920. This represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,420 shares of company stock valued at $1,092,930. 0.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nextracker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in shares of Nextracker by 4.5% during the first quarter. Envestnet Asset Management Inc. now owns 101,095 shares of the company’s stock worth $4,260,000 after purchasing an additional 4,352 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Nextracker by 48.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,768 shares of the company’s stock worth $117,000 after acquiring an additional 909 shares during the last quarter. Cerity Partners LLC acquired a new position in Nextracker in the 1st quarter valued at approximately $308,000. Xponance Inc. raised its stake in shares of Nextracker by 5.2% during the first quarter. Xponance Inc. now owns 21,962 shares of the company’s stock valued at $925,000 after acquiring an additional 1,090 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Nextracker by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 40,300 shares of the company’s stock worth $1,698,000 after purchasing an additional 400 shares during the period. 67.41% of the stock is owned by institutional investors.

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.