BBR Partners LLC Invests $359,000 in Nextracker Inc. (NASDAQ:NXT)

BBR Partners LLC acquired a new position in shares of Nextracker Inc. (NASDAQ:NXT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,567 shares of the company’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. 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 valued at $31,000 after purchasing an additional 279 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Nextracker by 1,602.5% in the second quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock worth $32,000 after buying an additional 641 shares during the last quarter. TFC Financial Management Inc. acquired a new stake in Nextracker in the second quarter valued at $32,000. Rothschild Investment LLC bought a new position in Nextracker during the 2nd quarter valued at $35,000. Finally, Hilltop National Bank grew its holdings in Nextracker by 40.6% during the 2nd quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

NXT has been the topic of a number of recent analyst reports. Northland Securities restated an “outperform” rating and issued a $48.00 target price on shares of Nextracker in a research note on Tuesday, November 19th. Northland Capmk upgraded Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Susquehanna decreased their target price on Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Nextracker in a report on Friday, November 22nd. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $54.30.

Nextracker Stock Performance

Shares of NXT opened at $39.71 on Thursday. The firm has a 50-day moving average price of $36.69 and a 200 day moving average price of $43.00. The firm has a market capitalization of $5.78 billion, a PE ratio of 9.90 and a beta of 2.32. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

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.