2,982 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Nomura Asset Management Co. Ltd.

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 Securities & Exchange Commission. The fund acquired 2,982 shares of the company’s stock, valued at approximately $112,000.

A number of other institutional investors also recently bought and sold shares of the company. Holocene Advisors LP acquired a new position in shares of Nextracker during the 3rd quarter worth $45,416,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Nextracker in the second quarter valued at about $43,078,000. Erste Asset Management GmbH acquired a new stake in shares of Nextracker in the third quarter valued at approximately $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nextracker by 1,800.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock worth $39,675,000 after purchasing an additional 801,780 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Nextracker by 2,854.7% during the 2nd quarter. Principal Financial Group Inc. now owns 738,456 shares of the company’s stock worth $34,619,000 after purchasing an additional 713,463 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Nextracker Trading Up 0.7 %

NASDAQ NXT opened at $35.47 on Monday. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 8.85 and a beta of 2.09. 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. The company’s 50 day moving average price is $36.82 and its 200 day moving average price is $41.96.

Analyst Ratings Changes

NXT has been the topic of a number of analyst reports. Guggenheim reiterated a “buy” rating and set a $55.00 target price on shares of Nextracker in a report on Friday, November 22nd. JPMorgan Chase & Co. dropped 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. Barclays reduced their target price on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. BMO Capital Markets lowered their price target on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Nextracker from $64.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nextracker presently has an average rating of “Moderate Buy” and an average 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.