Analysts’ Weekly Ratings Updates for Nextracker (NXT)

A number of firms have modified their ratings and price targets on shares of Nextracker (NASDAQ: NXT) recently:

• 1/29/2025 – Nextracker was upgraded by analysts at BNP Paribas to a “strong-buy” rating.
• 1/29/2025 – Nextracker had its price target raised by analysts at Susquehanna from $50.00 to $54.00. They now have a “positive” rating on the stock.
• 1/29/2025 – Nextracker had its price target raised by analysts at Piper Sandler from $47.00 to $50.00. They now have an “overweight” rating on the stock.
• 1/29/2025 – Nextracker had its price target raised by analysts at JPMorgan Chase & Co. from $58.00 to $61.00. They now have an “overweight” rating on the stock.
• 1/29/2025 – Nextracker was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $60.00 price target on the stock, up previously from $47.00.
• 1/29/2025 – Nextracker had its “outperform” rating reaffirmed by analysts at Northland Securities. They now have a $55.00 price target on the stock, up previously from $48.00.
• 1/29/2025 – Nextracker had its price target raised by analysts at BMO Capital Markets from $48.00 to $50.00. They now have a “market perform” rating on the stock.
• 1/29/2025 – Nextracker had its price target raised by analysts at The Goldman Sachs Group, Inc. from $54.00 to $61.00. They now have a “buy” rating on the stock.
• 1/29/2025 – Nextracker had its price target raised by analysts at Guggenheim from $50.00 to $62.00. They now have a “buy” rating on the stock.
• 1/29/2025 – Nextracker had its price target raised by analysts at UBS Group AG from $60.00 to $66.00. They now have a “buy” rating on the stock.
• 1/29/2025 – Nextracker had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $56.00 price target on the stock, up previously from $54.00.
• 1/29/2025 – Nextracker was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $56.00 price target on the stock, up previously from $46.00.
• 1/8/2025 – Nextracker had its price target lowered by analysts at Wells Fargo & Company from $70.00 to $69.00. They now have an “overweight” rating on the stock.
• 1/8/2025 – Nextracker had its price target lowered by analysts at Citigroup Inc. from $50.00 to $45.00. They now have a “neutral” rating on the stock.
• 12/19/2024 – Nextracker is now covered by analysts at TD Cowen. They set a “hold” rating and a $41.00 price target on the stock.
• 12/17/2024 – Nextracker had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $63.00 to $54.00. They now have a “buy” rating on the stock.

Nextracker Trading Up 0.4 %

NXT traded up $0.19 during trading on Wednesday, reaching $45.31. The company had a trading volume of 2,047,476 shares, compared to its average volume of 3,314,653. The firm’s 50-day simple moving average is $40.77 and its 200 day simple moving average is $38.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 11.53 and a beta of 2.14. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. Equities research analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Bruce Ledesma sold 9,891 shares of Nextracker stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total value of $455,480.55. Following the completion of the sale, the insider now owns 132,374 shares of the company’s stock, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David P. Bennett sold 9,801 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $49.90, for a total transaction of $489,069.90. Following the transaction, the chief accounting officer now directly owns 124,577 shares in the company, valued at $6,216,392.30. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,758 shares of company stock worth $1,217,520 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nextracker

A number of institutional investors have recently made changes to their positions in NXT. Franklin Resources Inc. increased its stake in Nextracker by 113.4% during the fourth quarter. Franklin Resources Inc. now owns 301,455 shares of the company’s stock valued at $11,012,000 after acquiring an additional 160,206 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in Nextracker by 44.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 25,146 shares of the company’s stock valued at $919,000 after purchasing an additional 7,752 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Nextracker in the 4th quarter valued at approximately $1,165,000. Norges Bank bought a new stake in shares of Nextracker in the 4th quarter valued at approximately $106,166,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Nextracker by 23.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,866,028 shares of the company’s stock worth $68,166,000 after buying an additional 360,214 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

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.