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Nextracker Inc (NXT) Analysis & Forecast for 2024

Nextracker Inc (NASDAQ: NXT) is 11.72% higher on its value in year-to-date trading and has touched a low of $29.28 and a high of $62.14 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NXT stock was last observed hovering at around $56.20 in the last trading session, with the day’s loss setting it -3.86%.

Currently trading at $52.34, the stock is -10.35% and -6.15% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.3 million and changing -6.87% at the moment leaves the stock 19.07% off its SMA200. NXT registered 50.62% gain for a year compared to 6-month gain of 30.33%. The firm has a 50-day simple moving average (SMA 50) of $3.03 and a 200-day simple moving average (SMA200) of $19.16.

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The stock witnessed a -8.82% loss in the last 1 month and extending the period to 3 months gives it a 11.72%, and is -11.29% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.59% over the week and 3.93% over the month.

Nextracker Inc (NXT) has around 606 employees, a market worth around $7.15B and $2.28B in sales. Current P/E ratio is 31.28 and Fwd P/E is 16.96. Profit margin for the company is 4.48%. Distance from 52-week low is 78.76% and -15.77% from its 52-week high.

Nextracker Inc quarterly earnings per share for the current quarter are estimated at $0.73 with sales reaching $684.32M over the same period.The EPS is expected to grow by 150.06% this year, but quarterly earnings will post 28.70% year-over-year. Quarterly sales are estimated to grow 32.00% in year-over-year returns.

Nextracker Inc (NXT) Top Institutional Holders

367 institutions hold shares in Nextracker Inc (NXT), with institutional investors hold 56.76% of the company’s shares. The shares outstanding are 136.54M, and float is at 130.12M with Short Float at 5.93%. Institutions hold 56.64% of the Float.

The top institutional shareholder in the company is TPG GP A, LLC with over 15.28 million shares valued at $608.26 million. The investor’s holdings represent 24.65% of the NXT Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 4.47 million shares valued at $177.79 million to account for 7.20% of the shares outstanding. The other top investors are Vanguard Group Inc which holds 4.39 million shares representing 7.08% and valued at over $174.7 million, while Citadel Advisors Llc holds 4.02% of the shares totaling 2.49 million with a market value of $99.09 million.

Nextracker Inc (NXT) Insider Activity

The most recent transaction is an insider sale by TPG GP A, LLC,the company’s10% Owner. SEC filings show that TPG GP A, LLC sold 11,000,000 shares of the company’s common stock on Feb 05 ’24 at a price of $56.60 per share for a total of $622.6 million. Following the sale, the insider now owns 6.04 million shares.

Nextracker Inc disclosed in a document filed with the SEC on Dec 07 ’23 that SHUGAR DANIEL S (Chief Executive Officer) bought a total of 37,821 shares of the company’s common stock. The trade occurred on Dec 07 ’23 and was made at $39.63 per share for $1.5 million. Following the transaction, the insider now directly holds 77713.0 shares of the NXT stock.

Still, SEC filings show that on Nov 20 ’23, Schlesinger Leah (GC, Ch Eth & Compl Off’r & Sec) disposed off 2,192 shares at an average price of $40.00 for $87680.0. The insider now directly holds 5,114 shares of Nextracker Inc (NXT).

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