Nextracker Inc (NASDAQ:NXT)’s traded shares stood at 0.98 million during the latest session, with the company’s beta value hitting 1.95. At the last check today, the stock’s price was $57.04, to imply a decrease of -1.69% or -$0.98 in intraday trading. The NXT share’s 52-week high remains $62.14, putting it -8.94% down since that peak but still an impressive 48.67% since price per share fell to its 52-week low of $29.28. The company has a valuation of $7.79B, with an average of 3.64 million shares in intraday trading volume over the past 10 days and average of 4.42 million shares over the past 3 months.
Nextracker Inc (NASDAQ:NXT) trade information
After registering a -1.69% downside in the latest session, Nextracker Inc (NXT) has traded red over the past five days. The stock hit a weekly high of 60.77, dropping -1.69% in its intraday price action. The 5-day price performance for the stock is -2.11%, and -2.84% over 30 days. With these gigs, the year-to-date price performance is 21.75%. Short interest in Nextracker Inc (NASDAQ:NXT) saw shorts transact 7.72 million shares and set a 2.47 days time to cover.
Nextracker Inc (NXT) estimates and forecasts
Looking at statistics comparing Nextracker Inc share performance against respective industry, we note that the company has outperformed competitors. Nextracker Inc (NXT) shares are 41.54% up over the last 6 months, with its year-to-date growth rate higher than industry average at 1,004.17% against 8.00%. Revenue is forecast to grow 94.70% this quarter before jumping 39.60% for the next one. The rating firms project that company’s revenue will grow 28.60% compared to the previous financial year.
Revenue forecast for the current quarter as set by 20 analysts is $684.32 million. Meanwhile, for the quarter ending Jun 2024, a total of 15 analyst(s) estimate revenue growth to $649.93 million.
NXT Dividends
Nextracker Inc has its next earnings report out in April. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Nextracker Inc has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Nextracker Inc (NASDAQ:NXT)’s Major holders
Nextracker Inc insiders hold 0.21% of total outstanding shares, with institutional holders owning 56.39% of the shares at 56.50% float percentage. In total, 56.39% institutions holds shares in the company, led by TPG GP A, LLC. As of Dec 30, 2023, the company held over 12.76 million shares (or 9.35% of shares), all amounting to roughly $730.55 million.
The next major institution holding the largest number of shares is Blackrock Inc. with 7.38 million shares, or about 5.40% of shares outstanding. As of the market price on Dec 30, 2023, these shares were worth $422.35 million.
We also have iShares Russell 2000 ETF and iShares Global Clean Energy ETF as the top two Mutual Funds with the largest holdings of the Nextracker Inc (NXT) shares. Going by data provided on Jan 30, 2024, iShares Russell 2000 ETF holds roughly 3.11 million shares. This is just over 2.28% of the total shares, with a market valuation of $178.16 million. Data from the same date shows that the other fund manager holds a little less at 2.03 million, or 1.49% of the shares, all valued at about 116.37 million.
