Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Nextracker Inc shares valued at $111,555 were sold by Schlesinger Leah on Apr 03 ’24. At $51.91 per share, Schlesinger Leah sold 2,149 shares. The insider’s holdings dropped to 11,910 shares worth approximately $0.51 million following the completion of this transaction.
Also, Miller Nicholas Marco sold 8,355 shares, netting a total of over 440,024 in proceeds. Following the sale of shares at $52.67 each, the insider now holds 11,114 shares.
Before that, TPG GP A, LLC had sold 11,000,000 shares from its account. In a trade valued at $622,600,000, the 10% Owner traded Nextracker Inc shares for $56.60 each. Upon closing the transaction, the insider’s holdings decreased to 11,000,000 shares, worth approximately $259.15 million.
As published in a research note from Northland Capital on April 26, 2024, Nextracker Inc [NXT] has been rated down from an Outperform to a Market perform and the price target has been revised to $44 from $60. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early April. As of April 01, 2024, Daiwa Securities has initiated its “an Outperform” rating for NXT. Earlier on March 22, 2024, BMO Capital Markets initiated its rating. Their recommendation was “a Market perform” for NXT stock.
Analyzing NXT Stock Performance
During the last five days, there has been a drop of approximately -2.37%. Over the course of the year, Nextracker Inc shares have dropped approximately -8.50%. Shares of the company reached a 52-week high of $62.14 on 03/11/24 and a 52-week low of $39.75 on 01/17/24. A 50-day SMA is recorded $53.15, while a 200-day SMA reached $44.79. Nevertheless, trading volume fell to 3.48 million shares from 2.12 million shares the previous day.
Support And Resistance Levels for Nextracker Inc (NXT)
According to the 24-hour chart, there is a support level at 42.12, which, if violated, would cause prices to drop to 41.36. In the upper region, resistance lies at 44.01. The next price resistance is at 45.14. RSI (Relative Strength Index) is 28.25 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.88, which suggests the price will decrease in the coming days. Percent R is at 89.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
