Nextracker (NASDAQ:NXT) Given New $44.00 Price Target at Truist Financial

Nextracker (NASDAQ:NXT – Get Rating) had its price target increased by Truist Financial from $40.00 to $44.00 in a research note issued to investors on Thursday morning, The Fly reports.

Other equities analysts also recently issued research reports about the company. Citigroup began coverage on Nextracker in a report on Monday, March 6th. They issued a neutral rating and a $36.00 target price on the stock. Roth Mkm initiated coverage on Nextracker in a report on Monday, March 6th. They issued a buy rating and a $45.00 price objective on the stock. Bank of America upgraded Nextracker from a neutral rating to a buy rating and increased their price objective for the stock from $36.00 to $40.00 in a report on Wednesday, March 29th. Barclays started coverage on shares of Nextracker in a research report on Monday, March 6th. They set an overweight rating and a $42.00 target price on the stock. Finally, KeyCorp initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They set a sector weight rating on the stock. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $40.64.

Nextracker Stock Performance

Shares of NASDAQ:NXT opened at $39.39 on Thursday. The firm’s fifty day moving average price is $32.73. Nextracker has a 12-month low of $28.24 and a 12-month high of $40.38.

Institutional Investors Weigh In On Nextracker

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Nextracker during the first quarter valued at $3,458,000. Penserra Capital Management LLC acquired a new stake in Nextracker in the 1st quarter valued at approximately $925,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Nextracker during the 1st quarter worth approximately $1,807,000. Parallel Advisors LLC acquired a new position in shares of Nextracker during the 1st quarter worth approximately $72,000. Finally, Jennison Associates LLC acquired a new stake in shares of Nextracker in the first quarter valued at approximately $11,112,000.

About Nextracker

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Nextracker Inc is a provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar power plants. Nextracker Inc is based in SAN JOSE, Calif.