Nextracker Inc. (NASDAQ:NXT) Position Raised by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 29,777 shares of the company’s stock after acquiring an additional 519 shares during the period. HighTower Advisors LLC’s holdings in Nextracker were worth $1,115,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Nextracker by 1,602.5% during the second quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock valued at $32,000 after purchasing an additional 641 shares during the period. Rothschild Investment LLC acquired a new position in Nextracker during the 2nd quarter valued at about $35,000. GAMMA Investing LLC increased its stake in Nextracker by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after buying an additional 549 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of Nextracker in the 3rd quarter worth approximately $75,000. Finally, Signaturefd LLC boosted its holdings in shares of Nextracker by 37.8% in the third quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays dropped their target price on Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Jefferies Financial Group began coverage on Nextracker in a research note on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price objective on the stock. Wells Fargo & Company decreased their target price on Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Piper Sandler lowered their target price on Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.50.

Nextracker Trading Up 0.5 %

Shares of NASDAQ NXT opened at $35.72 on Wednesday. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The business has a 50-day moving average price of $36.82 and a two-hundred day moving average price of $41.67. The firm has a market capitalization of $5.20 billion, a PE ratio of 8.91 and a beta of 2.09.

Nextracker Company Profile

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.