Charles Schwab Investment Management Inc. Increases Holdings in Nextracker Inc. (NASDAQ:NXT)

Charles Schwab Investment Management Inc. boosted its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 24.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,320,916 shares of the company's stock after buying an additional 261,523 shares during the period. Charles Schwab Investment Management Inc. owned 0.91% of Nextracker worth $49,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new stake in Nextracker in the 3rd quarter valued at $1,035,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Nextracker by 33.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company's stock worth $45,983,000 after acquiring an additional 307,956 shares in the last quarter. SCP Investment LP boosted its position in shares of Nextracker by 147.1% during the 3rd quarter. SCP Investment LP now owns 16,800 shares of the company's stock valued at $630,000 after acquiring an additional 10,000 shares during the last quarter. Legacy Bridge LLC grew its stake in shares of Nextracker by 10,275.8% in the 3rd quarter. Legacy Bridge LLC now owns 15,875 shares of the company's stock worth $595,000 after buying an additional 15,722 shares in the last quarter. Finally, Corbyn Investment Management Inc. MD increased its position in shares of Nextracker by 121.4% during the 3rd quarter. Corbyn Investment Management Inc. MD now owns 83,222 shares of the company's stock valued at $3,119,000 after purchasing an additional 45,631 shares during the last quarter. Institutional investors own 67.41% of the company's stock.

Nextracker Stock Performance

Shares of Nextracker stock traded down $1.55 during midday trading on Friday, hitting $38.16. The company had a trading volume of 1,483,574 shares, compared to its average volume of 2,789,561. The company has a fifty day simple moving average of $36.78 and a 200 day simple moving average of $42.94. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 9.52 and a beta of 2.32. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NXT shares. JPMorgan Chase & Co. decreased their price target on Nextracker from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group assumed coverage on Nextracker in a report on Wednesday, September 4th. They issued a "hold" rating and a $46.00 target price for the company. Guggenheim restated a "buy" rating and set a $55.00 price target on shares of Nextracker in a research note on Friday, November 22nd. Robert W. Baird decreased their price objective on Nextracker from $71.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Finally, Northland Capmk upgraded shares of Nextracker to a "strong-buy" rating in a report on Tuesday, November 19th. Four investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.30.

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.