Crossmark Global Holdings Inc. Sells 6,587 Shares of Nextracker Inc. (NASDAQ:NXT)

Crossmark Global Holdings Inc. trimmed its stake in Nextracker Inc. (NASDAQ:NXT) by 45.7% during the 3rd quarter, Holdings Channel reports. The firm owned 7,826 shares of the company’s stock after selling 6,587 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Nextracker were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. 1832 Asset Management L.P. grew its stake in Nextracker by 0.3% in the 1st quarter. 1832 Asset Management L.P. now owns 80,190 shares of the company’s stock worth $4,512,000 after buying an additional 275 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 73.2% during the 2nd 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. Hilltop National Bank grew its position in Nextracker by 40.6% in the second 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. Arizona State Retirement System increased its stake in Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock valued at $1,613,000 after acquiring an additional 372 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in Nextracker by 8.2% during the second quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock valued at $285,000 after purchasing an additional 461 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextracker Trading Down 7.4 %

NASDAQ NXT opened at $36.80 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. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The stock has a market cap of $5.36 billion, a P/E ratio of 9.18 and a beta of 2.32. The stock has a 50 day simple moving average of $36.30 and a two-hundred day simple moving average of $43.34.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Barclays dropped their target price on Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Robert W. Baird lowered their price objective on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Guggenheim cut their price objective on shares of Nextracker from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 target price on shares of Nextracker in a research report on Friday, August 2nd. Finally, 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 report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.95.

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.