The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nextracker Inc shares valued at $532,828 were sold by LEDESMA BRUCE on May 20 ’24. At $43.91 per share, LEDESMA BRUCE sold 12,135 shares. The insider’s holdings dropped to 17,387 shares worth approximately $0.61 million following the completion of this transaction.
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Also, Schlesinger Leah sold 2,149 shares, netting a total of over 111,555 in proceeds. Following the sale of shares at $51.91 each, the insider now holds 11,910 shares.
Before that, Miller Nicholas Marco had sold 8,355 shares from its account. In a trade valued at $440,024, the Chief Operating Officer traded Nextracker Inc shares for $52.67 each. Upon closing the transaction, the insider’s holdings decreased to 8,355 shares, worth approximately $0.39 million.
Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in early September. As of June 28, 2024, Susquehanna has initiated its “Positive” rating for NXT. Earlier on May 15, 2024, Fox Advisors upgraded its rating. Their new recommendation was “an Overweight” for NXT stock which previously was a “an Equal weight”.
Analyzing NXT Stock Performance
During the last five days, there has been a drop of approximately -3.32%. Over the course of the year, Nextracker Inc shares have dropped approximately -24.85%. Shares of the company reached a 52-week high of $62.31 on 06/13/24 and a 52-week low of $30.93 on 10/24/24. A 50-day SMA is recorded $36.77, while a 200-day SMA reached $44.69. Nevertheless, trading volume fell to 1.65 million shares from 1.75 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 34.67, which, if violated, would cause prices to drop to 34.14. In the upper region, resistance lies at 36.22. The next price resistance is at 37.24. RSI (Relative Strength Index) is 42.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.82, which suggests the price will decrease in the coming days. Percent R is at 99.04%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
