Blueshift Asset Management LLC Acquires 6,068 Shares of Nextracker Inc. (NASDAQ:NXT)

Blueshift Asset Management LLC grew its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 140.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,385 shares of the company’s stock after buying an additional 6,068 shares during the period. Blueshift Asset Management LLC’s holdings in Nextracker were worth $389,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of NXT. GAMMA Investing LLC increased its position in Nextracker by 73.2% in the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. Hilltop National Bank raised its position in shares of Nextracker by 40.6% during the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after purchasing an additional 343 shares during the period. Arizona State Retirement System lifted its holdings in shares of Nextracker by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock worth $1,613,000 after purchasing an additional 372 shares in the last quarter. Wedbush Securities Inc. grew its position in Nextracker by 8.2% in the 2nd quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock valued at $285,000 after purchasing an additional 461 shares during the period. Finally, Graybill Wealth Management LTD. grew its position in Nextracker by 1.7% in the 2nd quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company’s stock valued at $1,391,000 after purchasing an additional 483 shares during the period. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Performance

NASDAQ NXT opened at $39.71 on Friday. The firm has a market cap of $5.78 billion, a P/E ratio of 9.90 and a beta of 2.32. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $36.75 and its 200-day moving average is $42.98. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31.

Analysts Set New Price Targets

NXT has been the topic of a number of recent research reports. Roth Mkm dropped their price objective on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Northland Capmk upgraded Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered their price objective on Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 target price on shares of Nextracker in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Nextracker has an average rating of “Moderate Buy” and an average price target of $54.30.

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.