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Nextracker Inc (NXT) Stock Could Soon Reward Patient Investors

Nextracker Inc (NASDAQ: NXT) is 3.14% higher on its value in year-to-date trading and has touched a low of $32.14 and a high of $62.31 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 $47.98 in the last trading session, with the day’s gains setting it 0.34%.

Currently trading at $48.32, the stock is -8.58% and -3.44% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.71 million and changing 0.71% at the moment leaves the stock 2.78% off its SMA200. NXT registered 26.92% gain for a year compared to 6-month gain of 15.08%.

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The stock witnessed a -13.42% loss in the last 1 month and extending the period to 3 months gives it a -5.24%, and is 4.77% up 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 4.02% over the week and 4.86% over the month.

Nextracker Inc (NXT) has around 1050 employees, a market worth around $6.92B and $2.50B in sales. Current P/E ratio is 15.91 and Fwd P/E is 14.21. Profit margin for the company is 12.25%. Distance from 52-week low is 50.34% and -22.45% from its 52-week high. The company has generated returns on investments over the last 12 months (27.28%).

The EPS is expected to shrink by -1.56% this year.

Nextracker Inc (NXT) Top Institutional Holders

The shares outstanding are 140.77M, and float is at 135.72M with Short Float at 5.77%.

Nextracker Inc (NXT) Insider Activity

The most recent transaction is an insider sale by LEDESMA BRUCE,the company’sPresident – Strtgy & Admnstrtn. SEC filings show that LEDESMA BRUCE sold 12,135 shares of the company’s common stock on May 20 ’24 at a price of $43.91 per share for a total of $0.53 million. Following the sale, the insider now owns 17387.0 shares.

Nextracker Inc disclosed in a document filed with the SEC on Apr 03 ’24 that Schlesinger Leah (GC, Ch Eth & Compl Off’r & Sec) sold a total of 2,149 shares of the company’s common stock. The trade occurred on Apr 03 ’24 and was made at $51.91 per share for $0.11 million. Following the transaction, the insider now directly holds 11910.0 shares of the NXT stock.

Still, SEC filings show that on Apr 02 ’24, Miller Nicholas Marco (Chief Operating Officer) disposed off 8,355 shares at an average price of $52.67 for $0.44 million. The insider now directly holds 11,114 shares of Nextracker Inc (NXT).

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