Shares of Nextracker Inc. (NASDAQ:NXT – Get Free Report) have earned an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $58.17.
A number of research analysts recently weighed in on the stock. Roth Mkm raised their price target on shares of Nextracker from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Daiwa Capital Markets initiated coverage on Nextracker in a research report on Monday, April 1st. They set an “outperform” rating and a $63.00 price target for the company. Bank of America boosted their price objective on Nextracker from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Barclays cut Nextracker from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $55.00 to $63.00 in a research note on Tuesday, April 2nd. Finally, Citigroup lifted their price objective on shares of Nextracker from $45.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st.
Check Out Our Latest Stock Report on Nextracker
Insider Buying and Selling at Nextracker
Institutional Investors Weigh In On Nextracker
Hedge funds have recently made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Nextracker in the 1st quarter worth $25,000. Keybank National Association OH increased its holdings in shares of Nextracker by 7.1% in the third quarter. Keybank National Association OH now owns 6,825 shares of the company’s stock worth $274,000 after buying an additional 455 shares during the period. Paradice Investment Management LLC lifted its stake in shares of Nextracker by 9.3% in the 1st quarter. Paradice Investment Management LLC now owns 5,682 shares of the company’s stock valued at $320,000 after acquiring an additional 482 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Nextracker by 3.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company’s stock valued at $652,000 after acquiring an additional 541 shares during the period. Finally, Lindbrook Capital LLC bought a new position in Nextracker during the 1st quarter worth approximately $34,000. 67.41% of the stock is currently owned by institutional investors.
Nextracker Stock Down 5.0 %
Shares of Nextracker stock opened at $43.73 on Friday. The company has a market cap of $5.97 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 0.40 and a beta of 2.42. Nextracker has a 52 week low of $32.14 and a 52 week high of $62.14. The business has a 50 day moving average price of $52.07 and a 200-day moving average price of $47.46.
Nextracker Company Profile
Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; and NX Horizon-XTR, a terrain-following tracker designed to expand the addressable market for trackers on sites with sloped, uneven, and challenging terrain.
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