Nextracker Inc. (NASDAQ:NXT) Shares Bought by Barclays PLC

Barclays PLC raised its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 259.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,800 shares of the company's stock after purchasing an additional 187,598 shares during the period. Barclays PLC owned 0.18% of Nextracker worth $9,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Holocene Advisors LP bought a new stake in Nextracker in the third quarter worth about $45,416,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Nextracker during the 2nd quarter worth approximately $43,078,000. Erste Asset Management GmbH bought a new position in Nextracker in the 3rd quarter valued at $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Nextracker by 1,800.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company's stock valued at $39,675,000 after acquiring an additional 801,780 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Nextracker by 2,854.7% in the second quarter. Principal Financial Group Inc. now owns 738,456 shares of the company's stock worth $34,619,000 after purchasing an additional 713,463 shares during the period. 67.41% of the stock is owned by institutional investors.

Nextracker Price Performance

Shares of Nextracker stock traded up $0.18 on Tuesday, reaching $35.72. The company's stock had a trading volume of 1,764,465 shares, compared to its average volume of 3,583,414. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a market capitalization of $5.20 billion, a P/E ratio of 8.91 and a beta of 2.09. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $36.82 and a 200-day moving average price of $41.67.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Northland Securities restated an "outperform" rating and issued a $48.00 target price on shares of Nextracker in a research note on Tuesday, November 19th. Barclays dropped their target price on Nextracker from $61.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Truist Financial boosted their price objective on shares of Nextracker from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Susquehanna decreased their price target on Nextracker from $59.00 to $50.00 and set a "positive" rating for the company in a research note on Wednesday, October 16th. Finally, Piper Sandler dropped their price objective on shares of Nextracker from $60.00 to $47.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.50.

Nextracker 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.