Blueshift Asset Management LLC Buys 6,068 Shares of Nextracker Inc. (NASDAQ:NXT)

Blueshift Asset Management LLC raised its stake in Nextracker Inc. (NASDAQ:NXT) by 140.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,385 shares of the company’s stock after acquiring an additional 6,068 shares during the period. Blueshift Asset Management LLC’s holdings in Nextracker were worth $389,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Diversify Advisory Services LLC acquired a new stake in shares of Nextracker during the 2nd quarter worth approximately $1,270,000. Swedbank AB acquired a new stake in shares of Nextracker in the 2nd quarter valued at $4,622,000. Secure Asset Management LLC bought a new position in shares of Nextracker in the 3rd quarter valued at $1,370,000. Price T Rowe Associates Inc. MD increased its stake in shares of Nextracker by 534.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 175,047 shares of the company’s stock valued at $9,851,000 after purchasing an additional 147,446 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Nextracker by 33.5% during 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 in the last quarter. 67.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on NXT shares. Northland Capmk raised Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Piper Sandler decreased their price target on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group initiated coverage on shares of Nextracker in a research note on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price objective for the company. Truist Financial boosted their target price on shares of Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America dropped their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. 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 company. According to MarketBeat.com, Nextracker has a consensus rating of “Moderate Buy” and an average price target of $54.30.

Nextracker Stock Up 2.2 %

Shares of NASDAQ NXT opened at $39.71 on Friday. The company’s 50 day moving average price is $36.75 and its 200-day moving average price is $42.98. 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 52-week low of $30.93 and a 52-week high of $62.31. The company has a market capitalization of $5.78 billion, a P/E ratio of 9.90 and a beta of 2.32.

Nextracker 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.