Nextracker Options Trading: A Deep Dive into Market Sentiment

Whales with a lot of money to spend have taken a noticeably bullish stance on Nextracker.

Looking at options history for Nextracker NXT we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 11% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $684,500 and 5, calls, for a total amount of $193,083.

Latest Startup Investment Opportunities:

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $75.0 for Nextracker over the last 3 months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Nextracker's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Nextracker's significant trades, within a strike price range of $50.0 to $75.0, over the past month.

Nextracker Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

Following our analysis of the options activities associated with Nextracker, we pivot to a closer look at the company's own performance.

Present Market Standing of Nextracker

• Currently trading with a volume of 1,277,351, the NXT's price is up by 4.77%, now at $57.93.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 58 days.

What Analysts Are Saying About Nextracker

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $64.6.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Goldman Sachs has decided to maintain their Buy rating on Nextracker, which currently sits at a price target of $68. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Nextracker, targeting a price of $64. * An analyst from BMO Capital has decided to maintain their Market Perform rating on Nextracker, which currently sits at a price target of $59. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Nextracker, targeting a price of $67. * An analyst from Truist Securities has decided to maintain their Overweight rating on Nextracker, which currently sits at a price target of $65.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Nextracker with Benzinga Pro for real-time alerts.