Nextracker Inc. (NASDAQ:NXT) Shares Bought by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 33.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,226,862 shares of the company's stock after acquiring an additional 307,956 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.84% of Nextracker worth $45,983,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NXT. Vanguard Group Inc. raised its position in Nextracker by 166.1% during the first quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company's stock valued at $705,149,000 after acquiring an additional 7,821,368 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Nextracker during the first quarter worth $235,000. Covestor Ltd increased its holdings in Nextracker by 29,300.0% in the first quarter. Covestor Ltd now owns 882 shares of the company's stock valued at $49,000 after buying an additional 879 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Nextracker during the 1st quarter worth about $1,199,000. Finally, American International Group Inc. grew its position in shares of Nextracker by 151.5% during the 1st quarter. American International Group Inc. now owns 62,059 shares of the company's stock valued at $3,492,000 after acquiring an additional 37,380 shares during the period. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Trading Up 3.9 %

Nextracker stock traded up $1.45 during trading on Friday, hitting $38.85. The company had a trading volume of 1,820,587 shares, compared to its average volume of 3,706,670. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 9.60 and a beta of 2.32. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company's 50 day simple moving average is $36.51 and its 200-day simple moving average is $43.15.

Wall Street Analyst Weigh In

NXT has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Nextracker from $62.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. Susquehanna cut their price target on shares of Nextracker from $59.00 to $50.00 and set a "positive" rating for the company in a report on Wednesday, October 16th. Roth Mkm dropped their target price on shares of Nextracker from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $55.00 price target on shares of Nextracker in a research report on Friday, August 2nd. Finally, Piper Sandler lowered their price objective on Nextracker from $60.00 to $47.00 and set an "overweight" rating on the stock in a report on Friday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Nextracker has a consensus rating of "Moderate Buy" and a consensus price target of $54.30.

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.