Swiss National Bank Grows Position in Nextracker Inc. (NASDAQ:NXT)

Swiss National Bank lifted its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 9.9% in the 3rd quarter, Holdings Channel reports. The firm owned 265,620 shares of the company’s stock after acquiring an additional 23,900 shares during the period. Swiss National Bank’s holdings in Nextracker were worth $9,955,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. Fifth Third Bancorp lifted its position in Nextracker by 1,602.5% in the 2nd 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. purchased a new stake in Nextracker in the second quarter worth approximately $32,000. Rothschild Investment LLC bought a new position in Nextracker during the second quarter valued at approximately $35,000. Finally, Hilltop National Bank raised 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 acquiring an additional 343 shares in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextracker Stock Performance

Shares of NASDAQ NXT opened at $38.85 on Monday. The firm’s fifty day moving average is $36.53 and its two-hundred day moving average is $43.06. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a market cap of $5.65 billion, a P/E ratio of 9.69 and a beta of 2.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21.

Analysts Set New Price Targets

NXT has been the topic of several recent research reports. Jefferies Financial Group started coverage on shares of Nextracker in a report on Wednesday, September 4th. They set a “hold” rating and a $46.00 target price on the stock. Bank of America dropped their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Susquehanna dropped their price objective on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Guggenheim reaffirmed a “buy” rating and set a $55.00 target price on shares of Nextracker in a research note on Friday. Finally, Robert W. Baird dropped their price target on Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Nextracker presently has an average rating of “Moderate Buy” and an average price target of $54.30.

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.