Legacy Bridge LLC Raises Stake in Nextracker Inc. (NASDAQ:NXT)

Legacy Bridge LLC increased its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 10,275.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,875 shares of the company's stock after acquiring an additional 15,722 shares during the period. Legacy Bridge LLC's holdings in Nextracker were worth $595,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NXT. GAMMA Investing LLC grew its position in shares of Nextracker by 73.2% during the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company's stock worth $31,000 after purchasing an additional 279 shares in the last quarter. TFC Financial Management Inc. acquired a new position in Nextracker during the 2nd quarter worth approximately $32,000. Fifth Third Bancorp boosted its position in Nextracker by 1,602.5% in the second quarter. Fifth Third Bancorp now owns 681 shares of the company's stock valued at $32,000 after buying an additional 641 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Nextracker in the 2nd quarter valued at $35,000. Finally, Covestor Ltd grew its position in Nextracker by 29,300.0% during the 1st quarter. Covestor Ltd now owns 882 shares of the company's stock worth $49,000 after acquiring an additional 879 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on NXT shares. JPMorgan Chase & Co. lowered their price objective on Nextracker from $62.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Susquehanna lowered their target price on Nextracker from $59.00 to $50.00 and set a "positive" rating for the company in a research report on Wednesday, October 16th. Jefferies Financial Group started coverage on Nextracker in a research note on Wednesday, September 4th. They issued a "hold" rating and a $46.00 price target for the company. Northland Securities reissued an "outperform" rating and issued a $48.00 price objective on shares of Nextracker in a research report on Tuesday. Finally, BMO Capital Markets decreased their price objective on Nextracker from $56.00 to $44.00 and set a "market perform" rating for the company in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $55.15.

Nextracker Stock Down 1.1 %

Shares of NASDAQ:NXT traded down $0.40 during midday trading on Tuesday, reaching $37.03. The company's stock had a trading volume of 631,150 shares, compared to its average volume of 3,727,985. The firm has a market capitalization of $5.39 billion, a P/E ratio of 9.33 and a beta of 2.32. The firm has a 50 day moving average of $36.37 and a 200-day moving average of $43.29. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. 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 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.