State of Alaska Department of Revenue Has $624,000 Stock Position in Nextracker Inc. (NASDAQ:NXT)

State of Alaska Department of Revenue increased its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 24.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,660 shares of the company’s stock after buying an additional 3,300 shares during the quarter. State of Alaska Department of Revenue’s holdings in Nextracker were worth $624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Nextracker by 76.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,146 shares of the company’s stock valued at $2,765,000 after buying an additional 21,314 shares during the period. Janney Montgomery Scott LLC bought a new position in Nextracker during the 1st quarter worth about $1,228,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Nextracker in the 1st quarter valued at about $93,000. LSV Asset Management bought a new stake in shares of Nextracker in the first quarter valued at about $26,041,000. Finally, SG Americas Securities LLC boosted its position in shares of Nextracker by 289.5% during the first quarter. SG Americas Securities LLC now owns 72,078 shares of the company’s stock worth $4,056,000 after buying an additional 53,571 shares during the period. 67.41% of the stock is currently owned by institutional investors.

Nextracker Trading Down 0.7 %

Shares of NASDAQ:NXT opened at $41.35 on Friday. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The business has a 50 day moving average of $36.18 and a 200-day moving average of $43.56. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.01 billion, a PE ratio of 10.42 and a beta of 2.32.

Analyst Upgrades and Downgrades

NXT has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Nextracker from $64.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Truist Financial boosted their price objective on shares of Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on shares of Nextracker in a research report on Wednesday, September 4th. They issued a “hold” rating and a $46.00 target price for the company. Susquehanna cut their price target on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and an average target price of $54.95.

About Nextracker

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.