Nextracker Inc. (NASDAQ:NXT) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Nextracker Inc. (NASDAQ:NXT) by 259.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 259,800 shares of the company’s stock after acquiring an additional 187,598 shares during the quarter. Barclays PLC’s holdings in Nextracker were worth $9,737,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NXT. Arizona State Retirement System increased its stake in shares of Nextracker by 1.1% during the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock worth $1,613,000 after acquiring an additional 372 shares during the period. Quarry LP increased its position in Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after purchasing an additional 426 shares during the period. Wedbush Securities Inc. raised its stake in shares of Nextracker by 8.2% during the 2nd quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock worth $285,000 after buying an additional 461 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Nextracker by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock valued at $1,115,000 after buying an additional 519 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Nextracker by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after buying an additional 549 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Trading Up 0.2 %

Shares of Nextracker stock opened at $35.54 on Tuesday. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The business’s fifty day moving average is $36.81 and its two-hundred day moving average is $41.81. 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 firm has a market cap of $5.17 billion, a PE ratio of 8.86 and a beta of 2.09.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NXT. JPMorgan Chase & Co. cut their price objective on Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Truist Financial upped their target price 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. Piper Sandler reduced their price target on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Northland Capmk raised Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.30.

Nextracker 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.