Nextracker Inc. (NASDAQ:NXT) Stock Holdings Lifted by DRW Securities LLC

DRW Securities LLC raised 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 and Exchange Commission (SEC). The institutional investor owned 52,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. DRW Securities LLC’s holdings in Nextracker were worth $1,949,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Nextracker by 73.2% in the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after purchasing an additional 279 shares in the last quarter. TFC Financial Management Inc. bought a new stake in shares of Nextracker during the 2nd quarter worth about $32,000. Fifth Third Bancorp increased its holdings in shares of Nextracker by 1,602.5% during the 2nd quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock valued at $32,000 after acquiring an additional 641 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Nextracker in the 2nd quarter valued at approximately $35,000. Finally, Hilltop National Bank raised its stake in shares of Nextracker by 40.6% in the 2nd quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock valued at $56,000 after acquiring an additional 343 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Price Performance

NASDAQ:NXT opened at $38.85 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. The company has a 50-day moving average of $36.53 and a 200-day moving average of $43.06. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 9.69 and a beta of 2.32.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Northland Securities reiterated an “outperform” rating and set a $48.00 price target on shares of Nextracker in a report on Tuesday, November 19th. Truist Financial raised their target price on shares of Nextracker from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Jefferies Financial Group started coverage on shares of Nextracker in a research report on Wednesday, September 4th. They set a “hold” rating and a $46.00 target price for the company. Bank of America lowered their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Guggenheim reissued a “buy” rating and set a $55.00 price objective on shares of Nextracker in a research report on Friday. Four equities 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.30.

About Nextracker

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.