Nextracker Inc. (NASDAQ:NXT) Shares Bought by Algert Global LLC

Algert Global LLC increased its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 117,279 shares of the company's stock after acquiring an additional 13,697 shares during the quarter. Algert Global LLC owned approximately 0.08% of Nextracker worth $4,396,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American International Group Inc. boosted its holdings in shares of Nextracker by 151.5% in the 1st quarter. American International Group Inc. now owns 62,059 shares of the company's stock valued at $3,492,000 after purchasing an additional 37,380 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Nextracker in the 1st quarter valued at $283,000. Lazard Asset Management LLC raised its position in Nextracker by 954.4% in the first quarter. Lazard Asset Management LLC now owns 96,965 shares of the company's stock valued at $5,455,000 after purchasing an additional 87,769 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Nextracker by 534.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 175,047 shares of the company's stock worth $9,851,000 after purchasing an additional 147,446 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Nextracker in the first quarter worth about $506,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NXT has been the topic of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $55.00 price target on shares of Nextracker in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on Nextracker from $64.00 to $58.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Roth Mkm reduced their price target on Nextracker from $70.00 to $65.00 and set a "buy" rating for the company in a report on Friday, August 2nd. BMO Capital Markets dropped their price objective on Nextracker from $56.00 to $44.00 and set a "market perform" rating on the stock in a report on Monday, October 14th. Finally, Bank of America reduced their target price on Nextracker from $65.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.30.

Nextracker Stock Performance

NASDAQ:NXT traded up $1.55 during midday trading on Monday, reaching $40.40. 2,421,690 shares of the company traded hands, compared to its average volume of 3,701,037. The firm has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.69 and a beta of 2.32. The company has a fifty day moving average price of $36.53 and a 200 day moving average price of $43.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.

Nextracker Company Profile

Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and distributed generation solar projects in the United States and internationally. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.