Nextracker (NASDAQ:NXT) PT Raised to $42.00 at Bank of America

Nextracker (NASDAQ:NXT – Get Rating) had its price target hoisted by research analysts at Bank of America from $40.00 to $42.00 in a note issued to investors on Friday, The Fly reports. Bank of America‘s price objective suggests a potential upside of 6.63% from the company’s current price.

Several other analysts have also issued reports on NXT. Truist Financial increased their price objective on Nextracker from $40.00 to $44.00 in a report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Nextracker in a research report on Monday, March 6th. They set an “overweight” rating and a $42.00 target price on the stock. Craig Hallum assumed coverage on shares of Nextracker in a research report on Wednesday, March 22nd. They set a “buy” rating and a $41.00 target price on the stock. Johnson Rice assumed coverage on shares of Nextracker in a research report on Tuesday, April 11th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Northland Securities increased their target price on shares of Nextracker from $32.00 to $35.00 in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.64.

Nextracker Stock Performance

Shares of NASDAQ:NXT opened at $39.39 on Friday. The firm’s fifty day moving average price is $32.73. Nextracker has a 12-month low of $28.24 and a 12-month high of $40.38.

Institutional Investors Weigh In On Nextracker

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC acquired a new position in shares of Nextracker during the 1st quarter worth approximately $3,738,000. Amalgamated Bank acquired a new position in shares of Nextracker during the 1st quarter worth approximately $154,000. New York State Common Retirement Fund acquired a new position in shares of Nextracker during the 1st quarter worth approximately $3,840,000. Lisanti Capital Growth LLC acquired a new stake in shares of Nextracker during the 1st quarter worth approximately $11,350,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Nextracker during the 1st quarter worth approximately $457,000.

About Nextracker

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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.