Nomura Asset Management Co. Ltd. Purchases Shares of 2,982 Nextracker Inc. (NASDAQ:NXT)

Nomura Asset Management Co. Ltd. acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,982 shares of the company’s stock, valued at approximately $112,000.

A number of other hedge funds have also made changes to their positions in the business. Arizona State Retirement System increased its stake in Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock valued at $1,613,000 after purchasing an additional 372 shares during the last quarter. Quarry LP raised its stake 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 acquiring an additional 426 shares in the last quarter. Wedbush Securities Inc. lifted its position in Nextracker by 8.2% in the second quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock valued at $285,000 after acquiring an additional 461 shares during the last quarter. Graybill Wealth Management LTD. boosted its stake in Nextracker by 1.7% in the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company’s stock valued at $1,391,000 after acquiring an additional 483 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Nextracker by 1.8% during the third quarter. HighTower Advisors LLC now owns 29,777 shares of the company’s stock worth $1,115,000 after purchasing an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Nextracker Trading Up 0.7 %

Shares of NXT stock opened at $35.47 on Monday. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The business’s fifty day moving average price is $36.82 and its 200 day moving average price is $41.96. The firm has a market capitalization of $5.16 billion, a PE ratio of 8.85 and a beta of 2.09.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price on Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Northland Securities reissued an “outperform” rating and issued a $48.00 price objective on shares of Nextracker in a report on Tuesday, November 19th. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Piper Sandler decreased their price target on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on shares of Nextracker in a research note on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price objective on the stock. Four 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.