Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 29.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,792 shares of the company’s stock after buying an additional 21,760 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Nextracker were worth $3,536,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP raised its position in shares of Nextracker by 61.5% in the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares during the period. GAMMA Investing LLC raised its holdings in Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after purchasing an additional 549 shares during the period. Neo Ivy Capital Management purchased a new position in Nextracker during the third quarter worth approximately $74,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Nextracker in the third quarter valued at approximately $75,000. Finally, Hilltop National Bank raised its stake in shares of Nextracker by 75.1% during the 4th quarter. Hilltop National Bank now owns 2,078 shares of the company’s stock worth $76,000 after buying an additional 891 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Bank of America cut their price objective on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Piper Sandler decreased their target price on Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. TD Cowen began coverage on Nextracker in a research report on Thursday, December 19th. They set a “hold” rating and a $41.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.10.

Nextracker Stock Down 3.4 %

NXT stock opened at $41.10 on Friday. The stock has a market capitalization of $5.98 billion, a PE ratio of 10.25 and a beta of 2.04. The company has a fifty day moving average of $38.35 and a 200-day moving average of $39.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31.

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.