Clean Energy Transition LLP raised its holdings in shares of Nextracker Inc. (NASDAQ:NXT – Free Report) by 1.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 935,646 shares of the company’s stock after purchasing an additional 13,591 shares during the quarter. Nextracker accounts for about 5.1% of Clean Energy Transition LLP’s portfolio, making the stock its 6th largest position. Clean Energy Transition LLP’s holdings in Nextracker were worth $37,248,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Nextracker during the 1st quarter valued at $457,000. Virtu Financial LLC bought a new stake in shares of Nextracker during the first quarter worth $200,000. Amalgamated Bank purchased a new stake in shares of Nextracker during the first quarter valued at $154,000. Victory Capital Management Inc. bought a new position in shares of Nextracker in the first quarter worth about $20,059,000. Finally, New York State Common Retirement Fund purchased a new position in Nextracker in the 1st quarter worth about $3,840,000. Institutional investors own 44.28% of the company’s stock.
Nextracker Price Performance
NASDAQ:NXT remained flat at $39.69 during mid-day trading on Tuesday. The company had a trading volume of 108,363 shares, compared to its average volume of 1,533,155. The stock has a fifty day moving average of $37.48 and a two-hundred day moving average of $38.87. Nextracker Inc. has a 12 month low of $28.24 and a 12 month high of $46.55.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on NXT. Northland Securities raised shares of Nextracker from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Thursday, October 26th. Mizuho boosted their price target on Nextracker from $45.00 to $50.00 in a report on Thursday, July 27th. Truist Financial raised their price objective on Nextracker from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Janney Montgomery Scott began coverage on Nextracker in a report on Monday, October 16th. They issued a “buy” rating and a $43.00 target price for the company. Finally, Craig Hallum raised their price target on Nextracker from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.95.
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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