Stocks of Nextracker Inc (NASDAQ:NXT) traded higher last session on Wall Street, up 6.91% to $45.98.
NXT stock price is now -9.25% away from the 50-day moving average and 2.24% away from the 200-day moving average. The market capitalization of the company currently stands at $6.28B.
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With the price target maintained at $60, Fox Advisors recently Upgraded its rating from Equal Weight to Overweight for Nextracker Inc (NASDAQ: NXT). On April 26, 2024, Northland Capital Downgraded its previous ‘Outperform’ rating to ‘Market Perform’ on the stock reducing its target price from $60 to quote $44, while ‘Barclays’ rates the stock as ‘Equal Weight’
In other news, Schlesinger Leah, GC, Ch Eth & Compl Off’r & Sec sold 2,149 shares of the company’s stock on Apr 03 ’24. The stock was sold for $111,555 at an average price of $51.91. Upon completion of the transaction, the GC, Ch Eth & Compl Off’r & Sec now directly owns 11,910 shares in the company, valued at $0.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 02 ’24, Chief Operating Officer Miller Nicholas Marco sold 8,355 shares of the business’s stock. A total of $440,024 was realized by selling the stock at an average price of $52.67. This leaves the insider owning 11,114 shares of the company worth $0.51 million. A total of 4.74% of the company’s stock is owned by insiders.
During the past 12 months, Nextracker Inc has had a low of $32.14 and a high of $62.14. As of last week, the company has a debt-to-equity ratio of 0.15, a current ratio of 1.98, and a quick ratio of 1.76.
The company reported revenue of $710.43 million for the quarter, compared to $513.37 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.38 percent. For the current quarter, analysts expect NXT to generate $636.78M in revenue.
