51,359 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Centiva Capital LP

Centiva Capital LP acquired a new stake in Nextracker Inc. (NASDAQ:NXT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 51,359 shares of the company's stock, valued at approximately $1,925,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company's stock worth $31,000 after purchasing an additional 279 shares during the period. TFC Financial Management Inc. bought a new position in Nextracker in the second quarter valued at approximately $32,000. Fifth Third Bancorp raised its position in Nextracker by 1,602.5% during the second quarter. Fifth Third Bancorp now owns 681 shares of the company's stock valued at $32,000 after purchasing an additional 641 shares in the last quarter. Rothschild Investment LLC bought a new stake in Nextracker during the second quarter worth $35,000. Finally, Hilltop National Bank increased its stake in shares of Nextracker by 40.6% in the 2nd quarter. Hilltop National Bank now owns 1,187 shares of the company's stock valued at $56,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NXT shares. Truist Financial increased their target price on shares of Nextracker from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Robert W. Baird lowered their price target on shares of Nextracker from $71.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Guggenheim reissued a "buy" rating and set a $55.00 price objective on shares of Nextracker in a report on Friday, November 22nd. Bank of America lowered their target price on Nextracker from $65.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Finally, Susquehanna reduced their price target on Nextracker from $59.00 to $50.00 and set a "positive" rating on the stock in a report on Wednesday, October 16th. Four equities 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 company's stock. According to data from MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.30.

Nextracker Stock Performance

Nextracker stock traded down $0.70 during trading on Tuesday, hitting $39.19. The stock had a trading volume of 904,893 shares, compared to its average volume of 3,651,740. 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's 50 day moving average is $36.85 and its two-hundred day moving average is $42.89. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 9.95 and a beta of 2.10.

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.