Traders Buy Large Volume of Put Options on Nextracker (NASDAQ:NXT)

Nextracker Inc. (NASDAQ:NXT) saw unusually large options trading activity on Wednesday. Stock traders purchased 8,225 put options on the company. This is an increase of 40% compared to the average daily volume of 5,893 put options.

Nextracker Trading Down 9.3%

NASDAQ NXT traded down $9.87 on Wednesday, reaching $95.97. 1,798,310 shares of the stock were exchanged, compared to its average volume of 2,477,581. Nextracker has a one year low of $33.29 and a one year high of $112.74. The firm has a market capitalization of $14.24 billion, a PE ratio of 24.94, a PEG ratio of 2.68 and a beta of 2.30. The company’s 50-day simple moving average is $83.31 and its two-hundred day simple moving average is $67.07.

Nextracker (NASDAQ:NXT) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.21. The business had revenue of $905.27 million for the quarter, compared to analysts’ expectations of $839.53 million. Nextracker had a return on equity of 35.05% and a net margin of 17.08%. Nextracker has set its FY 2026 guidance at 4.040-4.250 EPS. Sell-side analysts forecast that Nextracker will post 3.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on NXT. Weiss Ratings raised shares of Nextracker from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Northland Securities reaffirmed a “market perform” rating on shares of Nextracker in a report on Wednesday, July 30th. Roth Capital set a $120.00 price objective on Nextracker in a research report on Friday, October 24th. Northland Capmk lowered Nextracker from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft set a $99.00 target price on shares of Nextracker and gave the stock a “buy” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.05.

Insider Activity at Nextracker

In other news, President Howard Wenger sold 5,703 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $70.00, for a total value of $399,210.00. Following the completion of the transaction, the president owned 414,256 shares in the company, valued at $28,997,920. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles D. Boynton sold 4,500 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $67.21, for a total value of $302,445.00. Following the completion of the sale, the chief financial officer directly owned 295,059 shares in the company, valued at approximately $19,830,915.39. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,420 shares of company stock valued at $1,092,930 in the last three months. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NXT. Cullen Frost Bankers Inc. boosted its holdings in shares of Nextracker by 122.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 589 shares of the company’s stock worth $32,000 after purchasing an additional 324 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nextracker by 703.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 659 shares of the company’s stock worth $28,000 after purchasing an additional 577 shares during the period. Hantz Financial Services Inc. grew its holdings in Nextracker by 1,737.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 827 shares of the company’s stock valued at $45,000 after purchasing an additional 782 shares during the last quarter. MAI Capital Management grew its holdings in Nextracker by 309.4% during the 2nd quarter. MAI Capital Management now owns 831 shares of the company’s stock valued at $45,000 after purchasing an additional 628 shares during the last quarter. Finally, Summit Securities Group LLC raised its position in Nextracker by 796.0% in the 1st quarter. Summit Securities Group LLC now owns 905 shares of the company’s stock worth $38,000 after purchasing an additional 804 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

About Nextracker

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.