The Vanguard Group, Inc. recently announced the acquisition of new stake in Nextracker Inc (NASDAQ:NXT). The institutional investor has increased its shareholding in the Technology company by 1.43% to 4.35 million shares with purchase of 61381.0 shares. This fresh investment now brings its stake to 7.00% valued currently at $203.62 million. In addition, BlackRock Fund Advisors raised its holdings by 1.21 million to 3.03 million shares. And AllianceBernstein LP has lifted its position by 128.23% or 1.43 million shares – to 2.54 million shares.
Currently, there are 136.53M common shares owned by the public and among those 105.56M shares have been available to trade.
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Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 157,803 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 2,558,660 shares.
The top 3 mutual fund holders in Nextracker Inc are Handelsbanken Hallbar Energi, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. Handelsbanken Hallbar Energi owns 1.67 million shares of the company’s stock, all valued at over $78.27 million. Vanguard Total Stock Market ETF bought 1459.0 shares to see its total holdings expand to 1.51 million shares valued at over $70.6 million and representing 2.43% of the shares outstanding. iShares Russell 2000 ETF sold 3528.0 shares to bring its total holdings to over 1.33 million shares at a value of $62.4 million. iShares Russell 2000 ETF now owns shares totaling to 2.15% of the shares outstanding.
The company’s stock has a 5-day price change of 11.29% and 34.51% over the past three months. It has a 12-month low price of $28.24 and touched a high of $49.82 over the same period. NXT has an average intraday trading volume of 3.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.76%, 8.88%, and 17.19% respectively.
Institutional ownership of Nextracker Inc (NASDAQ: NXT) shares accounts for 37.55% of the company’s 136.53M shares outstanding. Mutual fund holders own 30.34%, while other institutional holders and individual stakeholders account for 52.79% and 21.16% respectively.
It has a market capitalization of $6.26B. The stock’s trailing 12-month PE ratio is 23.69, while the earnings-per-share (ttm) stands at $1.94. The company has a PEG of 0.64 and a Quick Ratio of 1.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.09% over the week and 5.33% over the month.
Analysts forecast that Nextracker Inc (NXT) will achieve an EPS of $0.48 for the current quarter, $0.55 for the next quarter and $2.6 for 2025. The lowest estimate earnings-per-share for the quarter is $0.41 while analysts give the company a high EPS estimate of $0.57. Earnings per share for the fiscal year are expected to increase by 106.52%, and 21.53% over the next financial year.
Looking at the support for the NXT, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on January 16, 2024, with the firm’s price target at $62.
