State Street Corp grew its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,070,473 shares of the company's stock after purchasing an additional 690,343 shares during the period. State Street Corp owned about 3.48% of Nextracker worth $190,041,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in NXT. Arizona State Retirement System grew its holdings in Nextracker by 1.1% during the second quarter. Arizona State Retirement System now owns 34,403 shares of the company's stock valued at $1,613,000 after purchasing an additional 372 shares during the last quarter. Quarry LP grew its holdings in Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company's stock valued at $42,000 after purchasing an additional 426 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Nextracker by 8.2% during the second quarter. Wedbush Securities Inc. now owns 6,080 shares of the company's stock valued at $285,000 after purchasing an additional 461 shares during the last quarter. Graybill Wealth Management LTD. grew its holdings in Nextracker by 1.7% during the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company's stock valued at $1,391,000 after purchasing an additional 483 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Nextracker by 1.8% during the third quarter. HighTower Advisors LLC now owns 29,777 shares of the company's stock valued at $1,115,000 after purchasing an additional 519 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on NXT. Northland Securities reissued an "outperform" rating and issued a $48.00 price objective on shares of Nextracker in a research report on Tuesday, November 19th. Barclays reduced their price objective on Nextracker from $61.00 to $47.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Susquehanna reduced their price objective on Nextracker from $59.00 to $50.00 and set a "positive" rating for the company in a research report on Wednesday, October 16th. Piper Sandler reduced their target price on Nextracker from $60.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, November 22nd. Finally, BMO Capital Markets reduced their target price on Nextracker from $56.00 to $44.00 and set a "market perform" rating for the company in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nextracker presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.30.
Read Our Latest Stock Report on NXT
Nextracker Price Performance
Shares of NASDAQ:NXT traded down $0.06 during trading on Friday, reaching $35.15. 770,286 shares of the company traded hands, compared to its average volume of 3,594,950. 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 52 week low of $30.93 and a 52 week high of $62.31. The firm has a market capitalization of $5.12 billion, a PE ratio of 8.78 and a beta of 2.09. The company's 50 day moving average is $36.84 and its two-hundred day moving average is $42.30.
About Nextracker
(
Free Report)
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.
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