Centiva Capital LP Takes Position in Nextracker Inc. (NASDAQ:NXT)

Centiva Capital LP purchased a new stake in shares of Nextracker Inc. (NASDAQ:NXT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 51,359 shares of the company’s stock, valued at approximately $1,925,000.

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

Analyst Upgrades and Downgrades

NXT has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Barclays dropped their price objective on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Northland Capmk upgraded shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Susquehanna dropped their price objective on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.30.

Nextracker Price Performance

NASDAQ:NXT opened at $39.89 on Tuesday. The firm has a market cap of $5.81 billion, a PE ratio of 9.95 and a beta of 2.10. Nextracker Inc. has a 12 month low of $30.93 and a 12 month high of $62.31. 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 price is $36.85 and its two-hundred day moving average price is $42.89.

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.