DRW Securities LLC Purchases 25,000 Shares of Nextracker Inc. (NASDAQ:NXT)

DRW Securities LLC increased its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 92.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,000 shares of the company's stock after buying an additional 25,000 shares during the period. DRW Securities LLC's holdings in Nextracker were worth $1,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of NXT. American International Group Inc. raised its position in shares of Nextracker by 151.5% in the first quarter. American International Group Inc. now owns 62,059 shares of the company's stock valued at $3,492,000 after purchasing an additional 37,380 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Nextracker in the first quarter valued at approximately $283,000. Lazard Asset Management LLC increased its position in Nextracker by 954.4% during the 1st quarter. Lazard Asset Management LLC now owns 96,965 shares of the company's stock worth $5,455,000 after buying an additional 87,769 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nextracker by 534.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 175,047 shares of the company's stock worth $9,851,000 after buying an additional 147,446 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Nextracker in the first quarter valued at about $506,000. 67.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on NXT. JPMorgan Chase & Co. lowered their price target on shares of Nextracker from $62.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets dropped their price target on shares of Nextracker from $56.00 to $44.00 and set a "market perform" rating for the company in a research report on Monday, October 14th. Piper Sandler reduced their price target on Nextracker from $60.00 to $47.00 and set an "overweight" rating on the stock in a research report on Friday. Robert W. Baird dropped their price objective on Nextracker from $71.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Finally, Truist Financial increased their target price on Nextracker from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Nextracker has a consensus rating of "Moderate Buy" and an average target price of $54.30.

Nextracker Trading Up 4.0 %

Shares of NASDAQ:NXT traded up $1.55 during midday trading on Monday, hitting $40.40. 2,380,859 shares of the stock were exchanged, compared to its average volume of 3,700,858. The business's 50-day moving average price is $36.53 and its 200 day moving average price is $43.06. 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 Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.69 and a beta of 2.32.

Nextracker 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.