Swiss National Bank grew its holdings in Nextracker Inc. (NASDAQ:NXT - Free Report) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 265,620 shares of the company's stock after purchasing an additional 23,900 shares during the period. Swiss National Bank owned approximately 0.18% of Nextracker worth $9,955,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company's stock worth $31,000 after buying an additional 279 shares during the last quarter. Hilltop National Bank increased its holdings in Nextracker by 40.6% in the 2nd quarter. Hilltop National Bank now owns 1,187 shares of the company's stock worth $56,000 after purchasing an additional 343 shares in the last quarter. Arizona State Retirement System raised its position in Nextracker by 1.1% in 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. Wedbush Securities Inc. boosted its stake in shares of 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 in the last quarter. Finally, Graybill Wealth Management LTD. grew its holdings in shares of Nextracker by 1.7% during the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company's stock worth $1,391,000 after purchasing an additional 483 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company's stock.
Nextracker Stock Up 4.0 %
Shares of NXT traded up $1.55 during trading hours on Monday, hitting $40.40. The stock had a trading volume of 2,421,690 shares, compared to its average volume of 3,701,037. The firm has a 50 day simple moving average of $36.53 and a 200-day simple moving average of $43.06. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The firm has a market capitalization of $5.88 billion, a P/E ratio of 9.69 and a beta of 2.32.
Analyst Ratings Changes
A number of brokerages recently issued reports on NXT. Jefferies Financial Group initiated coverage on shares of Nextracker in a report on Wednesday, September 4th. They issued a "hold" rating and a $46.00 price objective for the company. Bank of America cut their price target on shares of Nextracker from $65.00 to $52.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Truist Financial increased their price objective on Nextracker from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday, November 1st. Robert W. Baird cut their target price on Nextracker from $71.00 to $53.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $55.00 price target on shares of Nextracker in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Nextracker presently has an average rating of "Moderate Buy" and an average target price of $54.30.
Read Our Latest Analysis on NXT
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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