Investors aiming for above-average returns often turn to the practice of stock picking. Skillful choices in individual stocks can be a catalyst for substantial wealth growth.
After finishing at $46.02 in the prior trading day, Nextracker Inc (NASDAQ: NXT) closed at $43.73, down -4.98%. In other words, the price has decreased by -$4.98 from its previous closing price. On the day, 5.72 million shares were traded. NXT stock price reached its highest trading level at $45.33 during the session, while it also had its lowest trading level at $42.16.
Ratios:
Our goal is to gain a better understanding of NXT by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 16.23 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 17.14. For the most recent quarter (mrq), Quick Ratio is recorded 1.46 and its Current Ratio is at 1.87.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Northland Capital on April 26, 2024, Downgraded its rating to Market Perform and sets its target price to $44 from $60 previously.
On April 02, 2024, Barclays Downgraded its rating to Equal Weight which previously was Overweight and also upped its target price recommendation from $55 to $63.
On April 01, 2024, Daiwa Securities started tracking the stock assigning a Outperform rating and target price of $63.Daiwa Securities initiated its Outperform rating on April 01, 2024, with a $63 target price.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Apr 03 ’24 when Schlesinger Leah sold 2,149 shares for $51.91 per share. The transaction valued at 111,555 led to the insider holds 11,910 shares of the business.
Miller Nicholas Marco sold 8,355 shares of NXT for $440,024 on Apr 02 ’24. The Chief Operating Officer now owns 11,114 shares after completing the transaction at $52.67 per share. On Feb 05 ’24, another insider, TPG GP A, LLC, who serves as the 10% Owner of the company, sold 11,000,000 shares for $56.60 each. As a result, the insider received 622,600,000 and left with 6,044,918 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, NXT now has a Market Capitalization of 6326987776 and an Enterprise Value of 9929168896. As of this moment, Nextracker’s Price-to-Earnings (P/E) ratio for their current fiscal year is 26.14, and their Forward P/E ratio for the next fiscal year is 14.16. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.65. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.62. Its current Enterprise Value per Revenue stands at 4.352 whereas that against EBITDA is 27.374.
Stock Price History:
Over the past 52 weeks, NXT has reached a high of $62.14, while it has fallen to a 52-week low of $30.69. The 50-Day Moving Average of the stock is -16.14%, while the 200-Day Moving Average is calculated to be -2.64%.
Shares Statistics:
The stock has traded on average 3.10M shares per day over the past 3-months and 2571260 shares per day over the last 10 days, according to various share statistics. A total of 136.54M shares are outstanding, with a floating share count of 130.08M. Insiders hold about 4.74% of the company’s shares, while institutions hold 50.28% stake in the company. Shares short for NXT as of 1713139200 were 11474551 with a Short Ratio of 3.71, compared to 1710460800 on 7721008. Therefore, it implies a Short% of Shares Outstanding of 11474551 and a Short% of Float of 9.28.
