Clear Harbor Asset Management LLC Increases Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Clear Harbor Asset Management LLC raised its holdings in Nextracker Inc. (NASDAQ:NXT) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,239 shares of the company’s stock after buying an additional 1,086 shares during the quarter. Clear Harbor Asset Management LLC owned about 0.11% of Nextracker worth $5,598,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NXT. Geode Capital Management LLC increased its position in shares of Nextracker by 23.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock valued at $134,724,000 after acquiring an additional 679,272 shares during the period. Secure Asset Management LLC purchased a new position in shares of Nextracker in the third quarter worth about $1,370,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Nextracker by 33.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company’s stock worth $45,983,000 after buying an additional 307,956 shares during the period. Van ECK Associates Corp lifted its stake in Nextracker by 30.7% during the 3rd quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock valued at $2,272,000 after acquiring an additional 14,249 shares during the period. Finally, Proactive Wealth Strategies LLC purchased a new stake in shares of Nextracker in the 3rd quarter valued at $1,324,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Down 2.4 %

Shares of NASDAQ NXT opened at $44.19 on Tuesday. The company has a market capitalization of $6.43 billion, a P/E ratio of 11.02 and a beta of 2.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The company has a 50 day simple moving average of $38.47 and a 200-day simple moving average of $39.29. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NXT shares. Wells Fargo & Company decreased their price objective on Nextracker from $70.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Piper Sandler lowered their price objective on Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Guggenheim reaffirmed a “buy” rating and set a $55.00 target price on shares of Nextracker in a report on Friday, November 22nd. Susquehanna decreased their target price on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nextracker has a consensus rating of “Moderate Buy” and a consensus price target of $53.10.

Insider Buying and Selling at Nextracker

In related news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $45.00, for a total value of $272,970.00. Following the sale, the president now owns 209,365 shares in the company, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.27% of the company’s stock.

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.