Nextracker (NASDAQ:NXT) Raised to Strong-Buy at Northland Capmk

Nextracker (NASDAQ:NXT) was upgraded by research analysts at Northland Capmk to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on NXT. Susquehanna lowered their price objective on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Jefferies Financial Group started coverage on shares of Nextracker in a research note on Wednesday, September 4th. They set a “hold” rating and a $46.00 price target on the stock. Truist Financial raised their price objective on shares of Nextracker from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 price objective on shares of Nextracker in a report on Friday, August 2nd. Finally, Bank of America dropped their target price on shares of Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.15.

Nextracker Trading Up 3.3 %

NASDAQ NXT opened at $37.59 on Tuesday. Nextracker has a one year low of $30.93 and a one year high of $62.31. The firm has a market cap of $5.47 billion, a PE ratio of 9.37 and a beta of 2.32. The firm’s fifty day moving average is $36.47 and its two-hundred day moving average is $43.18. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21.

Hedge Funds Weigh In On Nextracker

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. Fifth Third Bancorp increased its holdings in Nextracker by 1,602.5% during the 2nd quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock worth $32,000 after purchasing an additional 641 shares during the last quarter. TFC Financial Management Inc. acquired a new position in shares of Nextracker in the 2nd quarter valued at approximately $32,000. Rothschild Investment LLC purchased a new position in shares of Nextracker during the 2nd quarter valued at approximately $35,000. Finally, Covestor Ltd grew its position in shares of Nextracker by 29,300.0% during the first quarter. Covestor Ltd now owns 882 shares of the company’s stock worth $49,000 after buying an additional 879 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

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.