DRW Securities LLC Has $1.95 Million Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

DRW Securities LLC increased its position in shares of Nextracker Inc. (NASDAQ:NXT) by 92.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. DRW Securities LLC’s holdings in Nextracker were worth $1,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Nextracker in the second quarter valued at $43,078,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nextracker by 1,800.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock valued at $39,675,000 after acquiring an additional 801,780 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Nextracker by 2,854.7% in the second quarter. Principal Financial Group Inc. now owns 738,456 shares of the company’s stock worth $34,619,000 after acquiring an additional 713,463 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Nextracker by 146.2% during the second quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock worth $53,550,000 after purchasing an additional 678,261 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Nextracker by 158.9% in the third quarter. Assenagon Asset Management S.A. now owns 963,698 shares of the company’s stock valued at $36,119,000 after purchasing an additional 591,488 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Stock Up 3.9 %

Nextracker stock opened at $38.85 on Monday. The stock has a market capitalization of $5.65 billion, a PE ratio of 9.69 and a beta of 2.32. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The company has a 50 day moving average of $36.53 and a 200-day moving average of $43.06. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11.

Analyst Upgrades and Downgrades

NXT has been the subject of several research reports. Piper Sandler lowered their target price on Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial boosted their price objective on Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reduced their target price on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Roth Mkm cut their price objective on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Northland Capmk upgraded shares of Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.30.

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.