The Vanguard Group, Inc. has recently announced that it has increased stake in Nextracker Inc (NASDAQ:NXT) by 1.43%. After grabbing 4.35 million shares, the institutional investor is now in possession of 61381.0 shares of the Technology Company. The new investment brought the stake of investor firm to 7.07% having worth around $151.08 million. Moreover, BlackRock Fund Advisors increased its share by 1.21 million to have a control over 3.03 million shares. And AllianceBernstein LP raised its holdings to 1.43 million shares by acquiring 2.54 million shares or 4.13% of the stake.
Nextracker Inc (NXT) concluded trading on 12/14/23 at a closing price of $46.70, with 3.92 million shares of worth about $183.2 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.68% during that period and on Thursday the price saw a gain of about 8.15%. Currently the company’s common shares owned by public are about 62.10M shares, out of which, 48.27M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 21 times over the past 12 months. They bought 157,803 shares in 15 of the transactions. In 6 selling transactions, insiders dumped 2,558,660 shares.
Handelsbanken Hallbar Energi, Vanguard Total Stock Market ETF, and iShares II Plc – Global Clean Ene are the top 3 mutual funds which are holding stakes in Nextracker Inc Handelsbanken Hallbar Energi is currently holding 1.67 million shares of worth totaling $58.07 million. The company recently came buying 0.0 shares which brought its stake up to 2.72% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 3202.0 shares, after which its hold over company’s outstanding shares expand to 2.44%, leaving 1.5 million shares with the mutual fund that have a worth of about $52.26 million. iShares II Plc – Global Clean Ene, after selling 1.3 million shares, have now control over 2.11% of the stake in the company. It holds 4032.0 shares of worth $45.14 million.
However, the stock later moved at a day high price of 47.59, or with a gain of 8.15%. Stock saw a price change of 18.59% in past 5 days and over the past one month there was a price change of 21.39%. Over the period of past 52 weeks, stock dropped to lowest price of $28.24 but also hit the highest price of $46.55 during that period. The average intraday trading volume for Nextracker Inc shares is 1.81 million. The stock is currently trading 16.22% above its 20-day simple moving average (SMA20), while that difference is up 25.04% for SMA50 and it goes to 24.52% higher than SMA200.
The Vanguard Group, Inc. acquired 4.35 million shares of Nextracker Inc having value of about $151.08 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 61381.0 shares in the company valued at close to $2866492.7, or have control over 1.43% stake in the company. Nextracker Inc (NASDAQ: NXT) currently have 62.10M outstanding shares and institutions hold larger chunk of about 82.73% of that. Holding of mutual funds in the company is about 31.92% while other institutional holders and individual stake holders have control over 51.91% and 20.80% of the stake respectively.
The stock has a current market capitalization of $2.90B. PE ratio of stock for trailing 12 months is 24.13, while it has posted earnings per share of $1.94 in the same period. Its PEG reads 0.63 and has Quick Ratio of 1.35. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NXT, volatility over the week remained 5.82% while standing at 4.53% over the month.
Analysts are in expectations that Nextracker Inc (NXT) stock would likely to be making an EPS of $0.49 in the current quarter, while forecast for next quarter EPS is $0.54 and it is $2.5 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.41 which is $0.6 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 103.87% while it is estimated to increase by 16.46% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Northland Capital on October 26, 2023 offering an Outperform rating for the stock and assigned a target price of $45 to it.
