Nextracker (NASDAQ:NXT) Now Covered by Analysts at Guggenheim

Analysts at Guggenheim began coverage on shares of Nextracker (NASDAQ:NXTGet Free Report) in a research note issued to investors on Thursday, Briefing.com reports. The firm set a “buy” rating and a $73.00 price target on the stock. Guggenheim’s price target points to a potential upside of 31.72% from the stock’s current price.

Other analysts have also issued reports about the stock. Citigroup increased their price target on shares of Nextracker from $45.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Nextracker from $61.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Cantor Fitzgerald upped their price objective on shares of Nextracker from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Mizuho upped their price objective on shares of Nextracker from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Wells Fargo & Company upped their price objective on shares of Nextracker from $57.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.78.

Read Our Latest Report on Nextracker

Nextracker Trading Down 0.6 %

Shares of NXT opened at $55.42 on Thursday. Nextracker has a 12-month low of $28.24 and a 12-month high of $58.29. The firm has a fifty day moving average price of $45.41 and a 200-day moving average price of $41.20. The firm has a market capitalization of $8.88 billion and a P/E ratio of 29.64.

Hedge Funds Weigh In On Nextracker

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Keybank National Association OH grew its position in shares of Nextracker by 7.1% during the third quarter. Keybank National Association OH now owns 6,825 shares of the company’s stock worth $274,000 after buying an additional 455 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Nextracker by 10.0% in the fourth quarter. Principal Financial Group Inc. now owns 5,700 shares of the company’s stock valued at $267,000 after purchasing an additional 516 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Nextracker by 3.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company’s stock valued at $652,000 after purchasing an additional 541 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Nextracker by 3.3% in the third quarter. Envestnet Asset Management Inc. now owns 19,339 shares of the company’s stock valued at $777,000 after purchasing an additional 624 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Nextracker in the second quarter valued at approximately $34,000. 44.28% of the stock is owned by institutional investors and hedge funds.

Nextracker Company Profile

(Get Free Report)

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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Analyst Recommendations for Nextracker (NASDAQ:NXT)

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