In yesterday’s Wall Street session, Nextracker Inc (NASDAQ:NXT) shares traded at $51.32, down -3.97% from the previous session.
NXT stock price is now 4.41% away from the 50-day moving average and 13.75% away from the 200-day moving average. The market capitalization of the company currently stands at $7.01B.
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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, LEDESMA BRUCE, President – Strtgy & Admnstrtn sold 12,135 shares of the company’s stock on May 20 ’24. The stock was sold for $532,828 at an average price of $43.91. Upon completion of the transaction, the President – Strtgy & Admnstrtn now directly owns 17,387 shares in the company, valued at $0.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 03 ’24, GC, Ch Eth & Compl Off’r & Sec Schlesinger Leah sold 2,149 shares of the business’s stock. A total of $111,555 was realized by selling the stock at an average price of $51.91. This leaves the insider owning 11,910 shares of the company worth $0.61 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. According to the stock market information, the enterprise value for the company is $6772049920, which is based on a 31.02 price-to-earnings ratio, a 0.77 price-to-earnings-growth ratio, and a beta of 2.61. The fifty day moving average price for NXT is $48.9662 and a two-hundred day moving average price translates $45.165825 for the stock.
The latest earnings results from Nextracker Inc (NASDAQ: NXT) was released for 2024-03-31. 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 $618.7M in revenue.
