Cantor Fitzgerald Increases Nextracker (NASDAQ:NXT) Price Target to $44.00

Nextracker (NASDAQ:NXT – Get Rating) had its price target upped by investment analysts at Cantor Fitzgerald from $40.00 to $44.00 in a note issued to investors on Thursday, The Fly reports. Cantor Fitzgerald’s price target points to a potential upside of 11.70% from the stock’s previous close.

NXT has been the topic of several other reports. JPMorgan Chase & Co. assumed coverage on Nextracker in a research report on Monday, March 6th. They issued an “overweight” rating and a $42.00 target price on the stock. Roth Capital reaffirmed a “buy” rating and issued a $45.00 target price on shares of Nextracker in a research report on Monday, March 6th. Scotiabank assumed coverage on Nextracker in a research report on Monday, March 6th. They issued a “sector outperform” rating and a $38.00 target price on the stock. Bank of America raised Nextracker from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $40.00 in a research report on Wednesday, March 29th. Finally, Credit Suisse Group started coverage on Nextracker in a research report on Monday, March 6th. They issued an “outperform” rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.64.

Nextracker Stock Performance

Shares of Nextracker stock opened at $39.39 on Thursday. The business’s fifty day simple moving average is $32.73. Nextracker has a fifty-two week low of $28.24 and a fifty-two week high of $40.38.

Hedge Funds Weigh In On Nextracker

A number of hedge funds have recently bought and sold shares of NXT. Allspring Global Investments Holdings LLC acquired a new position in Nextracker in the first quarter worth about $3,458,000. Penserra Capital Management LLC bought a new position in Nextracker in the first quarter worth about $925,000. DekaBank Deutsche Girozentrale bought a new position in Nextracker in the first quarter worth about $1,807,000. Parallel Advisors LLC bought a new position in Nextracker in the first quarter worth about $72,000. Finally, Jennison Associates LLC bought a new position in Nextracker in the first quarter worth about $11,112,000.

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.