Nextracker (NASDAQ:NXT – Get Free Report) had its target price cut by equities research analysts at Bank of America from $65.00 to $52.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 24.91% from the company’s current price.
NXT has been the topic of several other research reports. BMO Capital Markets lowered 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. Jefferies Financial Group assumed coverage on shares of Nextracker in a research note on Wednesday, September 4th. They set a “hold” rating and a $46.00 target price on the stock. Guggenheim lowered their target price on shares of Nextracker from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Roth Mkm lowered their target price on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Susquehanna lowered their target price on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.95.
Get Our Latest Stock Report on NXT
Nextracker Trading Down 5.6 %
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after purchasing an additional 279 shares during the period. TFC Financial Management Inc. acquired a new stake in shares of Nextracker during the second quarter worth approximately $32,000. Fifth Third Bancorp boosted 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 worth $32,000 after purchasing an additional 641 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Nextracker during the second quarter worth approximately $35,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Nextracker during the first quarter worth approximately $44,000. 67.41% of the stock is owned by hedge funds and other institutional investors.
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.
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