Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its holdings in Nextracker Inc. (NASDAQ:NXTFree Report) by 181.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 216,800 shares of the company’s stock after purchasing an additional 139,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.35% of Nextracker worth $8,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. purchased a new position in Nextracker in the first quarter worth approximately $154,708,000. JPMorgan Chase & Co. purchased a new position in Nextracker in the first quarter worth approximately $42,403,000. Alliancebernstein L.P. lifted its stake in Nextracker by 3,423.9% in the second quarter. Alliancebernstein L.P. now owns 1,113,857 shares of the company’s stock worth $44,343,000 after acquiring an additional 1,082,248 shares during the last quarter. Franklin Resources Inc. purchased a new position in Nextracker in the first quarter worth approximately $29,912,000. Finally, FMR LLC purchased a new position in Nextracker in the first quarter worth approximately $27,287,000. Hedge funds and other institutional investors own 44.28% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Northland Securities raised shares of Nextracker from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Thursday, October 26th. Citigroup raised their price objective on shares of Nextracker from $45.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Barclays raised their price objective on shares of Nextracker from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. raised their price objective on shares of Nextracker from $61.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Cantor Fitzgerald raised their price objective on shares of Nextracker from $52.00 to $62.00 and gave the stock 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.78.

Get Our Latest Report on NXT

Nextracker Price Performance

NASDAQ NXT opened at $58.07 on Monday. Nextracker Inc. has a 12 month low of $28.24 and a 12 month high of $59.07. The company has a 50-day moving average of $46.05 and a 200-day moving average of $41.48. The company has a market cap of $9.31 billion and a P/E ratio of 31.05.

Nextracker Profile

(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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Institutional Ownership by Quarter for Nextracker (NASDAQ:NXT)

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