Algert Global LLC Boosts Holdings in Nextracker Inc. (NASDAQ:NXT)

Algert Global LLC grew its position in Nextracker Inc. (NASDAQ:NXT) by 13.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 117,279 shares of the company’s stock after purchasing an additional 13,697 shares during the period. Algert Global LLC’s holdings in Nextracker were worth $4,396,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NXT. GAMMA Investing LLC grew its stake in shares of Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. Fifth Third Bancorp increased its stake in 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 purchasing an additional 641 shares in the last quarter. TFC Financial Management Inc. purchased a new position in shares of Nextracker in the second quarter worth $32,000. Rothschild Investment LLC purchased a new position in shares of Nextracker in the second quarter worth $35,000. Finally, Hilltop National Bank lifted its stake in shares of Nextracker by 40.6% during the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after buying an additional 343 shares during the period. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of research reports. Roth Mkm lowered their price target on Nextracker from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Truist Financial raised their price target 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. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company reduced their target price on shares of Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.30.

Nextracker Price Performance

Shares of NASDAQ NXT opened at $38.85 on Monday. The firm has a 50-day simple moving average of $36.53 and a 200-day simple moving average of $43.06. 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 stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 9.69 and a beta of 2.32. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31.

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.