Nextracker (NASDAQ:NXT) Reaches New 52-Week Low at $28.24

Shares of Nextracker Inc. (NASDAQ:NXT – Get Rating) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.24 and last traded at $28.69, with a volume of 326097 shares changing hands. The stock had previously closed at $29.61.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NXT. Scotiabank began coverage on Nextracker in a report on Monday, March 6th. They issued a “sector outperform” rating and a $38.00 price objective for the company. Credit Suisse Group started coverage on shares of Nextracker in a research report on Monday, March 6th. They set an “outperform” rating and a $36.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Nextracker in a research note on Friday, March 3rd. They issued an “overweight” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Nextracker in a research note on Monday, March 6th. They set an “overweight” rating and a $42.00 target price for the company. Finally, Mizuho initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They issued a “buy” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

Nextracker Stock Down 1.8 %

Nextracker Company Profile

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Nextracker Inc is a provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar power plants. Nextracker Inc is based in SAN JOSE, Calif.