Looking At NEXTracker's Recent Unusual Options Activity

High-rolling investors have positioned themselves bullish on NEXTracker NXT, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NXT often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for NEXTracker. This is not a typical pattern.

The sentiment among these major traders is split, with 50% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $74,949, and 7 calls, totaling $488,860.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $50.0 for NEXTracker during the past quarter.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $40.0 to $50.0 in the last 30 days.

NEXTracker Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
NXT CALL SWEEP NEUTRAL 06/21/24 $2.95 $2.55 $2.6 $45.00 $167.9K 1.4K 734
NXT CALL TRADE BEARISH 06/21/24 $6.1 $5.8 $5.9 $40.00 $147.5K 281 294
NXT PUT SWEEP BULLISH 06/21/24 $3.2 $3.0 $3.0 $45.00 $74.9K 353 653
NXT CALL TRADE NEUTRAL 06/21/24 $5.1 $4.9 $5.0 $40.00 $50.0K 281 414
NXT CALL SWEEP BEARISH 06/21/24 $2.0 $1.95 $2.0 $45.00 $36.0K 1.4K 1.6K

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.

After a thorough review of the options trading surrounding NEXTracker, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

NEXTracker's Current Market Status

  • With a trading volume of 3,704,566, the price of NXT is down by -5.5%, reaching $43.45.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 69 days from now.

What Analysts Are Saying About NEXTracker

5 market experts have recently issued ratings for this stock, with a consensus target price of $59.0.

  • Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for NEXTracker, targeting a price of $50.
  • Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on NEXTracker with a target price of $59.
  • Maintaining their stance, an analyst from Guggenheim continues to hold a Buy rating for NEXTracker, targeting a price of $60.
  • An analyst from BMO Capital persists with their Market Perform rating on NEXTracker, maintaining a target price of $56.
  • In a cautious move, an analyst from Roth MKM downgraded its rating to Buy, setting a price target of $70.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for NEXTracker, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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