Harbor Capital Advisors Inc. Has $3.54 Million Position in Nextracker Inc. (NASDAQ:NXT)

Harbor Capital Advisors Inc. grew its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 29.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,792 shares of the company’s stock after purchasing an additional 21,760 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.07% of Nextracker worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Nextracker by 15.8% in the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock worth $190,041,000 after purchasing an additional 690,343 shares during the last quarter. Geode Capital Management LLC raised its position in Nextracker by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock worth $134,724,000 after purchasing an additional 679,272 shares during the last quarter. Wellington Management Group LLP lifted its position in Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock valued at $127,169,000 after purchasing an additional 688,810 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Nextracker by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company’s stock valued at $88,739,000 after purchasing an additional 315,199 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Nextracker by 35.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,766,871 shares of the company’s stock valued at $82,844,000 after buying an additional 460,739 shares during the period. 67.41% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Price Performance

NXT stock opened at $41.10 on Friday. The company has a fifty day simple moving average of $38.35 and a two-hundred day simple moving average of $39.55. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. 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 capitalization of $5.98 billion, a P/E ratio of 10.25 and a beta of 2.04.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NXT shares. Bank of America decreased their price target on shares of Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Susquehanna lowered their price objective on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Citigroup dropped their target price on Nextracker from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets cut their price target 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. Finally, Truist Financial lifted their target price on Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.10.

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.