35,330 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Proactive Wealth Strategies LLC

Proactive Wealth Strategies LLC bought a new position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 35,330 shares of the company's stock, valued at approximately $1,324,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted 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 valued at $31,000 after acquiring an additional 279 shares in the last quarter. TFC Financial Management Inc. acquired a new stake in Nextracker during the second quarter valued at approximately $32,000. Fifth Third Bancorp grew its stake in shares of Nextracker by 1,602.5% in the 2nd quarter. Fifth Third Bancorp now owns 681 shares of the company's stock valued at $32,000 after purchasing an additional 641 shares during the period. Rothschild Investment LLC acquired a new position in shares of Nextracker in the 2nd quarter worth approximately $35,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Nextracker during the first quarter worth $44,000. Institutional investors own 67.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Nextracker from $71.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. 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 research note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on Nextracker from $62.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, October 17th. Truist Financial lifted their target price on Nextracker from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Susquehanna cut their price target on Nextracker from $59.00 to $50.00 and set a "positive" rating on the stock in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.95.

Nextracker Stock Performance

NASDAQ:NXT traded down $1.40 during mid-day trading on Tuesday, hitting $38.18. The stock had a trading volume of 2,604,981 shares, compared to its average volume of 3,762,303. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. The company's 50 day simple moving average is $36.16 and its 200 day simple moving average is $43.49. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 9.87 and a beta of 2.32. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.

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.