XTX Topco Ltd Raises Position in Nextracker Inc. (NASDAQ:NXT)

XTX Topco Ltd lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 111.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,463 shares of the company’s stock after buying an additional 24,451 shares during the quarter. XTX Topco Ltd’s holdings in Nextracker were worth $2,178,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Nextracker by 166.1% during the first quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company’s stock valued at $705,149,000 after purchasing an additional 7,821,368 shares during the period. Norges Bank purchased a new stake in Nextracker during the 4th quarter worth $120,861,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Nextracker in the 2nd quarter worth $43,078,000. Earnest Partners LLC purchased a new position in Nextracker in the 1st quarter valued at about $46,593,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nextracker by 1,800.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock valued at $39,675,000 after acquiring an additional 801,780 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial cut their price target on Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Susquehanna assumed coverage on shares of Nextracker in a report on Friday, June 28th. They issued a “positive” rating and a $59.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Nextracker in a research note on Wednesday, September 4th. They set a “hold” rating and a $46.00 price objective on the stock. Bank of America boosted their target price on shares of Nextracker from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price target on shares of Nextracker in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.91.

Nextracker Price Performance

NASDAQ NXT opened at $36.84 on Thursday. The company has a 50-day moving average price of $41.63 and a two-hundred day moving average price of $48.07. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 5.16 and a beta of 2.47. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. Nextracker Inc. has a 52 week low of $32.14 and a 52 week high of $62.31.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.27. Nextracker had a negative return on equity of 36.33% and a net margin of 14.87%. The business had revenue of $719.92 million during the quarter, compared to analyst estimates of $616.71 million. During the same period in the prior year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. Analysts forecast that Nextracker Inc. will post 2.57 EPS for the current year.

Nextracker Company 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.