<div id="readability-page-1"><p>Nextracker Inc. (NASDAQ:NXT - Get Free Report)'s stock price gapped down prior to trading on Friday after Roth Mkm lowered their price target on the stock from $70.00 to $65.00. The stock had previously closed at $46.83, but opened at $42.53. Roth Mkm currently has a buy rating on the stock. Nextracker shares last traded at $43.11, with a volume of 942,125 shares.</p><ul><li>AI Boosts 3 Renewable Stocks: First Solar, Enphase, Nextracker</li></ul><p>Other research analysts also recently issued research reports about the stock. Scotiabank lowered their price objective on shares of Nextracker from $55.00 to $50.00 and set a &#34;sector outperform&#34; rating on the stock in a report on Monday, April 29th. Bank of America increased their target price on shares of Nextracker from $64.00 to $66.00 and gave the company a &#34;buy&#34; rating in a report on Wednesday, July 17th. Cantor Fitzgerald reiterated an &#34;overweight&#34; rating and issued a $55.00 target price on shares of Nextracker in a report on Friday. Fox Advisors upgraded shares of Nextracker from an &#34;equal weight&#34; rating to an &#34;overweight&#34; rating and set a $60.00 target price for the company in a report on Wednesday, May 15th. Finally, Truist Financial lowered their target price on shares of Nextracker from $70.00 to $65.00 and set a &#34;buy&#34; rating for the company in a report on Monday. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of &#34;Moderate Buy&#34; and an average target price of $58.82.</p><p><b>Check Out Our Latest Report on Nextracker</b></p><h2>Insiders Place Their Bets</h2><ul><li>Nextracker: Solar Stock Rising With New Highs in Sight</li></ul><p>In other news, insider Bruce Ledesma sold 12,135 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $43.91, for a total value of $532,847.85. Following the sale, the insider now directly owns 17,387 shares of the company's stock, valued at $763,463.17. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.27% of the company's stock. </p><h2>Institutional Investors Weigh In On Nextracker</h2><p>Institutional investors and hedge funds have recently modified their holdings of the company. Farmers &amp; Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Nextracker in the first quarter worth about $25,000. Lindbrook Capital LLC purchased a new stake in Nextracker in the first quarter valued at approximately $34,000. GAMMA Investing LLC raised its stake in Nextracker by 73.2% in the second quarter. GAMMA Investing LLC now owns 660 shares of the company's stock valued at $31,000 after purchasing an additional 279 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Nextracker in the first quarter valued at approximately $37,000. Finally, Toth Financial Advisory Corp purchased a new stake in Nextracker in the first quarter valued at approximately $38,000. 67.41% of the stock is owned by hedge funds and other institutional investors. </p><h2>Nextracker Price Performance</h2><ul><li>2 solar tracker stocks to make your portfolio sizzle in 2024</li></ul><p>The business's 50 day moving average is $51.65 and its two-hundred day moving average is $51.45. The firm has a market capitalization of $5.91 billion, a PE ratio of 12.18 and a beta of 2.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.76. </p><p>Nextracker (NASDAQ:NXT - Get Free Report) last announced its earnings results on Tuesday, May 14th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.38. The business had revenue of $736.52 million for the quarter, compared to the consensus estimate of $681.03 million. Nextracker had a net margin of 12.25% and a negative return on equity of 13.70%. As a group, research analysts anticipate that Nextracker Inc. will post 2.62 EPS for the current year. </p><h2>About Nextracker</h2> (Get Free Report)<p>Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Nextracker</li><li>Golden Cross Stocks: Pattern, Examples and Charts </li><li>Should You Invest in Bitcoin? Pros and Cons</li><li>What is the S&amp;P/TSX Index?</li><li>Amazon Stock is Primed to Rebound Strongly After AI Bubble Bursts</li><li>Financial Services Stocks Investing</li><li>Shell Stock: Oil &amp; Gas Giant Committed to Buybacks and Dividends</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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<p>Nextracker (NASDAQ:NXT) shares gap down following an analyst downgrade by Roth Mkm. The stock opened at $42.53, lower than the previous close of $46.83. Other research analysts have also issued reports on the stock. Nextracker's 50-day moving average is $51.65 and its two-hundred day moving average is $51.45. The company reported better-than-expected earnings results for the quarter.</p>

Nextracker (NASDAQ:NXT) Shares Gap Down Following Analyst Downgrade