Nextracker Inc (NASDAQ:NXT) shares traded 1.67% higher at $38.90 on Wall Street last session.
NXT stock price is now -20.41% away from the 50-day moving average and -19.14% away from the 200-day moving average. The market capitalization of the company currently stands at $5.58B.
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With the price target of $59, Susquehanna recently initiated with Positive rating for Nextracker Inc (NASDAQ: NXT). On May 15, 2024, Fox Advisors Upgraded its previous ‘Equal Weight’ rating to ‘Overweight’ on the stock keeping its target price maintained at $60, while ‘Northland Capital’ rates the stock as ‘Market Perform’
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 $0.68 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 $0.46 million. A total of 5.18% 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 $62.31. As of last week, the company has a debt-to-equity ratio of 0.13, a current ratio of 2.11, and a quick ratio of 1.84. According to the stock market information, the enterprise value for the company is $5178249216, which is based on a 11.31 price-to-earnings ratio, a 0.28 price-to-earnings-growth ratio, and a beta of 2.73. The fifty day moving average price for NXT is $48.8754 and a two-hundred day moving average price translates $48.1074 for the stock.
The latest earnings results from Nextracker Inc (NASDAQ: NXT) was released for 2024-06-28. The company reported revenue of $719.92 million for the quarter, compared to $479.54 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 50.13 percent.
Nextracker Inc(NXT) Company 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. It also provides TrueCapture, a self-adjusting tracker control system, which boosts solar power plant production by optimizing the position of individual tracker row in response to site features, such as varying topography and changing weather conditions; and NX Navigator, that assists solar power plant owners and operators in monitoring, controlling, and protecting their solar projects. The company was founded in 2013 and is headquartered in Fremont, California. As of March 31, 2024 Nextracker Inc. was formerly a subsidiary of Flex Ltd.
