Nextracker Inc (NASDAQ: NXT) stock jumped 1.31% on Friday to $38.71 against a previous-day closing price of $38.21. With 0.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.71 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $38.82 whereas the lowest price it dropped to was $37.22. The 52-week range on NXT shows that it touched its highest point at $46.55 and its lowest point at $28.24 during that stretch. It currently has a 1-year price target of $51.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NXT was up-trending over the past week, with a rise of 12.24%, but this was up by 12.27% over a month. Three-month performance surged to 5.68% while six-month performance fell -1.15%. A look at the trailing 12-month EPS for NXT yields 1.94 with Next year EPS estimates of 2.47. For the next quarter, that number is 0.51. This implies an EPS growth rate of 101.00% for this year and 17.18% for next year.
Float and Shares Shorts:
At present, 62.10 million NXT shares are outstanding with a float of 48.14 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.0 million, which was 9.66% higher than short shares on Sep 28, 2023. In addition to Mr. Daniel S. Shugar as the firm’s Co-Founder, CEO & Director, Mr. Howard J. Wenger serves as its President.
Through their ownership of 105.95% of NXT’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NXT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NXT analysts setting a high price target of $60.00 and a low target of $45.00, the average target price over the next 12 months is $51.83. Based on these targets, NXT could surge 55.0% to reach the target high and rise by 16.25% to reach the target low. Reaching the average price target will result in a growth of 33.89% from current levels.
Summary of Insider Activity:
Insiders traded NXT stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 28,911 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 157,803 while 2,558,660 shares were sold.