Corbyn Investment Management Inc. MD Boosts Holdings in Nextracker Inc. (NASDAQ:NXT)

Corbyn Investment Management Inc. MD increased its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 121.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,222 shares of the company's stock after buying an additional 45,631 shares during the quarter. Corbyn Investment Management Inc. MD owned 0.06% of Nextracker worth $3,119,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Nextracker by 22.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 94,309 shares of the company's stock worth $5,307,000 after buying an additional 17,373 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Nextracker during the 1st quarter worth $345,000. Vanguard Group Inc. increased its stake in shares of Nextracker by 166.1% in the first quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company's stock worth $705,149,000 after purchasing an additional 7,821,368 shares in the last quarter. Edgestream Partners L.P. bought a new stake in Nextracker during the 1st quarter valued at $235,000. Finally, Covestor Ltd boosted its stake in Nextracker by 29,300.0% in the 1st quarter. Covestor Ltd now owns 882 shares of the company's stock worth $49,000 after purchasing an additional 879 shares during the period. Institutional investors own 67.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NXT shares. JPMorgan Chase & Co. lowered their target price on shares of Nextracker from $62.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, October 17th. Robert W. Baird decreased their target price on Nextracker from $71.00 to $53.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. BMO Capital Markets decreased their price objective on shares of Nextracker from $56.00 to $44.00 and set a "market perform" rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company dropped their price objective on shares of Nextracker from $64.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, October 29th. Finally, Susquehanna reduced their price objective on Nextracker from $59.00 to $50.00 and set a "positive" rating on the stock in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.95.

Nextracker Stock Up 2.2 %

Shares of NASDAQ NXT traded up $0.82 during mid-day trading on Monday, hitting $37.62. 1,068,032 shares of the stock traded hands, compared to its average volume of 3,737,169. The company has a market cap of $5.48 billion, a price-to-earnings ratio of 9.18 and a beta of 2.32. The stock has a fifty day moving average price of $36.30 and a 200-day moving average price of $43.34. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21.

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.