Retirement Systems of Alabama lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 14.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,244 shares of the company's stock after purchasing an additional 22,570 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Nextracker worth $6,531,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Secure Asset Management LLC acquired a new position in Nextracker during the third quarter worth $1,370,000. Geode Capital Management LLC increased its position in shares of Nextracker by 23.3% in the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company's stock valued at $134,724,000 after buying an additional 679,272 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake 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 buying an additional 307,956 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Nextracker by 30.7% in the 3rd quarter. Van ECK Associates Corp now owns 60,613 shares of the company's stock worth $2,272,000 after buying an additional 14,249 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its stake in Nextracker by 1,033.9% in the 2nd quarter. Great Lakes Advisors LLC now owns 91,187 shares of the company's stock valued at $4,275,000 after acquiring an additional 83,145 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.
Wall Street Analyst Weigh In
NXT has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on Nextracker from $64.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, October 29th. Truist Financial lifted their price objective on Nextracker from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Guggenheim restated a "buy" rating and issued a $55.00 target price on shares of Nextracker in a report on Friday, November 22nd. Piper Sandler lowered their price target on shares of Nextracker from $60.00 to $47.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Finally, Robert W. Baird cut their price objective on shares of Nextracker from $71.00 to $53.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Five 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 company. According to MarketBeat, Nextracker has an average rating of "Moderate Buy" and a consensus target price of $52.90.
Get Our Latest Stock Analysis on Nextracker
Nextracker Trading Down 3.3 %
NASDAQ NXT traded down $1.15 during mid-day trading on Thursday, hitting $33.84. The company's stock had a trading volume of 2,037,950 shares, compared to its average volume of 3,570,682. The firm has a market capitalization of $4.93 billion, a P/E ratio of 8.44 and a beta of 2.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The stock's fifty day simple moving average is $36.81 and its two-hundred day simple moving average is $41.57.
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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