Harel Insurance Investments & Financial Services Ltd. Sells 336 Shares of Nextracker Inc. (NASDAQ:NXT)

Harel Insurance Investments & Financial Services Ltd. cut its stake in Nextracker Inc. (NASDAQ:NXT) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 762 shares of the company’s stock after selling 336 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Nextracker were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Quarry LP boosted its position in Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after purchasing an additional 426 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Nextracker by 38.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock worth $68,000 after purchasing an additional 516 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Nextracker by 1.8% in the third quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock worth $1,115,000 after buying an additional 519 shares during the last quarter. GAMMA Investing LLC grew its position in Nextracker by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after buying an additional 549 shares during the period. Finally, Signaturefd LLC increased its holdings in Nextracker by 37.8% during the third quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after buying an additional 560 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the transaction, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by insiders.

Nextracker Stock Performance

NASDAQ:NXT opened at $41.00 on Monday. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 10.22 and a beta of 2.04. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. The stock’s 50 day simple moving average is $38.86 and its two-hundred day simple moving average is $39.16. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NXT. Citigroup dropped their price target on shares of Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Bank of America cut their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Truist Financial raised their price objective on Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group cut their price objective on Nextracker from $63.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company decreased their target price on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nextracker presently has an average rating of “Moderate Buy” and an average price target of $53.10.

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.