Trust Investment Advisors Sells 223 Shares of Nextracker Inc. $NXT

Trust Investment Advisors lessened its holdings in Nextracker Inc. (NASDAQ:NXT) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,386 shares of the company’s stock after selling 223 shares during the period. Trust Investment Advisors’ holdings in Nextracker were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Flputnam Investment Management Co. raised its stake in Nextracker by 2.4% in the 1st quarter. Flputnam Investment Management Co. now owns 8,621 shares of the company’s stock valued at $363,000 after acquiring an additional 201 shares during the period. Signaturefd LLC raised its stake in Nextracker by 10.2% in the 1st quarter. Signaturefd LLC now owns 2,583 shares of the company’s stock valued at $109,000 after acquiring an additional 239 shares during the period. Boston Partners raised its stake in Nextracker by 2.7% in the 1st quarter. Boston Partners now owns 10,494 shares of the company’s stock valued at $442,000 after acquiring an additional 280 shares during the period. Trium Capital LLP increased its position in Nextracker by 4.0% during the 1st quarter. Trium Capital LLP now owns 7,969 shares of the company’s stock worth $336,000 after buying an additional 303 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in Nextracker by 122.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after buying an additional 324 shares during the period. Institutional investors own 67.41% of the company’s stock.

Insiders Place Their Bets

In other Nextracker news, CFO Charles D. Boynton sold 4,500 shares of Nextracker stock in a transaction dated 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 owned 295,059 shares in the company, valued at $19,830,915.39. The trade was a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruce Ledesma sold 6,980 shares of Nextracker stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $56.24, for a total value of $392,555.20. Following the completion of the transaction, the insider owned 195,790 shares in the company, valued at approximately $11,011,229.60. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,400 shares of company stock valued at $2,053,385. 0.56% of the stock is owned by corporate insiders.

Nextracker Stock Performance

NXT opened at $98.55 on Tuesday. The firm has a market cap of $14.58 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.45 and a beta of 2.27. Nextracker Inc. has a 52-week low of $31.18 and a 52-week high of $101.98. The business’s fifty day moving average is $75.33 and its 200-day moving average is $62.03.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NXT shares. Cowen reiterated a “hold” rating on shares of Nextracker in a research report on Friday. Northland Securities reiterated a “market perform” rating on shares of Nextracker in a research report on Wednesday, July 30th. Northland Capmk cut Nextracker from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. TD Cowen increased their price objective on Nextracker from $65.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday. Finally, UBS Group increased their price objective on Nextracker from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.38.

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.