Harbor Capital Advisors Inc. Has $2.81 Million Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Harbor Capital Advisors Inc. raised its holdings in Nextracker Inc. (NASDAQ:NXT) by 111.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,032 shares of the company’s stock after purchasing an additional 39,567 shares during the quarter. Harbor Capital Advisors Inc. owned 0.05% of Nextracker worth $2,812,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Nextracker by 166.1% during the 1st quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company’s stock worth $705,149,000 after purchasing an additional 7,821,368 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Nextracker by 5.7% during the second quarter. Victory Capital Management Inc. now owns 2,052,437 shares of the company’s stock worth $96,218,000 after acquiring an additional 110,707 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Nextracker by 35.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,766,871 shares of the company’s stock worth $82,844,000 after acquiring an additional 460,739 shares during the period. Handelsbanken Fonder AB boosted its holdings in Nextracker by 5.3% in the third quarter. Handelsbanken Fonder AB now owns 1,675,617 shares of the company’s stock valued at $62,802,000 after acquiring an additional 84,069 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Nextracker by 146.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock valued at $53,550,000 after purchasing an additional 678,261 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Up 5.9 %

Shares of NASDAQ:NXT opened at $41.96 on Tuesday. The business’s 50 day moving average is $36.09 and its 200 day moving average is $43.57. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 10.46 and a beta of 2.32. The company has a quick ratio of 1.91, a current ratio of 2.21 and a debt-to-equity ratio of 0.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Guggenheim decreased their price objective on shares of Nextracker from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Truist Financial increased their price target on Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday. Bank of America increased their price target on Nextracker from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Wells Fargo & Company decreased their price target on Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Barclays decreased their price target on Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nextracker presently has a consensus rating of “Moderate Buy” and an average target price of $55.65.

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.