Harbor Capital Advisors Inc. Buys 39,567 Shares of Nextracker Inc. (NASDAQ:NXT)

Harbor Capital Advisors Inc. raised its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 111.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,032 shares of the company's stock after purchasing an additional 39,567 shares during the period. Harbor Capital Advisors Inc. owned 0.05% of Nextracker worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Nextracker by 166.1% in the 1st quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company's stock worth $705,149,000 after buying an additional 7,821,368 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Nextracker by 5.7% in the second quarter. Victory Capital Management Inc. now owns 2,052,437 shares of the company's stock worth $96,218,000 after acquiring an additional 110,707 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Nextracker by 35.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,766,871 shares of the company's stock valued at $82,844,000 after purchasing an additional 460,739 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Nextracker by 5.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,675,617 shares of the company's stock valued at $62,802,000 after purchasing an additional 84,069 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Nextracker by 146.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company's stock worth $53,550,000 after purchasing an additional 678,261 shares in the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Trading Up 5.1 %

Shares of NASDAQ NXT traded up $2.13 during midday trading on Tuesday, reaching $44.09. The company had a trading volume of 3,022,825 shares, compared to its average volume of 3,753,845. The stock has a market cap of $6.41 billion, a PE ratio of 11.00 and a beta of 2.32. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The firm's fifty day moving average price is $36.15 and its 200-day moving average price is $43.58. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Guggenheim decreased their price target on Nextracker from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. BMO Capital Markets decreased their target price on shares of Nextracker from $56.00 to $44.00 and set a "market perform" rating on the stock in a report on Monday, October 14th. Wells Fargo & Company cut their price target 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. Barclays decreased their price target on shares of Nextracker from $61.00 to $47.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Finally, Truist Financial lifted their price objective on Nextracker from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.65.

About Nextracker

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.