NEXTracker Unusual Options Activity For February 14

Deep-pocketed investors have adopted a bearish approach towards NEXTracker NXT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NXT usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for NEXTracker. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 5 are puts, totaling $172,723, and 3 are calls, amounting to $89,595.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $65.0 for NEXTracker over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for NEXTracker's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of NEXTracker's whale activity within a strike price range from $40.0 to $65.0 in the last 30 days.

NEXTracker Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About NEXTracker

Nextracker (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextracker's products enable solar panels in utility-scale power plants to follow the sun's movement across the sky and optimize plant performance. Nextracker has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.

NEXTracker's Current Market Status

• With a trading volume of 1,511,188, the price of NXT is up by 2.27%, reaching $58.95.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 84 days from now.

What The Experts Say On NEXTracker

5 market experts have recently issued ratings for this stock, with a consensus target price of $63.2.

• An analyst from Truist Securities has decided to maintain their Buy rating on NEXTracker, which currently sits at a price target of $60.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on NEXTracker with a target price of $73.
• Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on NEXTracker with a target price of $62.
• Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on NEXTracker with a target price of $70.
• An analyst from Barclays has decided to maintain their Overweight rating on NEXTracker, which currently sits at a price target of $51.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest NEXTracker options trades with real-time alerts from Benzinga Pro.