Nextracker Inc [NASDAQ: NXT] traded at a low on Thursday, posting a -2.12 loss after which it closed the day’ session at $42.98.
The results of the trading session contributed to over 2914405 shares changing hands. Over the past one week, the price volatility of Nextracker Inc stands at 4.47% while the volatility over the past one month is 4.28%.
The market cap for NXT stock reached $5.87 billion, with 136.54 million shares outstanding and 130.08 million shares in the current float. Compared to the average trading volume of 3.58M shares, NXT reached a trading volume of 2914405 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Nextracker Inc [NXT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NXT shares is $64.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NXT stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Nextracker Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on April 02, 2024. While these analysts kept the previous recommendation, Daiwa Securities raised their target price to Outperform. The new note on the price target was released on April 01, 2024, representing the official price target for Nextracker Inc stock. Previously, the target price had yet another raise to $69, while BMO Capital Markets analysts kept a Market Perform rating on NXT stock.
The Average True Range (ATR) for Nextracker Inc is set at 2.16, with the Price to Sales ratio for NXT stock in the period of the last 12 months amounting to 2.57. Price to Free Cash Flow for NXT in the course of the last twelve months was 16.84 with Quick ratio for the last quarter at 1.46.
How has NXT stock performed recently?
Nextracker Inc [NXT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.48. With this latest performance, NXT shares dropped by -24.16% in over the last four-week period, additionally plugging by 14.86% over the last 6 months – not to mention a rise of 31.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NXT stock in for the last two-week period is set at 24.32, with the RSI for the last a single of trading hit 20.25, and the three-weeks RSI is set at 29.65 for Nextracker Inc [NXT]. The present Moving Average for the last 50 days of trading for this stock 54.49, while it was recorded at 43.86 for the last single week of trading, and 44.69 for the last 200 days.
Nextracker Inc [NXT]: Deeper insight into the fundamentals
Nextracker Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.46 and a Current Ratio set at 1.87.
Earnings analysis for Nextracker Inc [NXT]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NXT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Nextracker Inc go to 40.20%.
Insider trade positions for Nextracker Inc [NXT]
The top three institutional holders of NXT stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NXT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NXT stock with ownership which is approximately 5.8386%.
