Thrivent Financial for Lutherans Acquires 4,006 Shares of Nextracker Inc. (NASDAQ:NXT)

Thrivent Financial for Lutherans increased its holdings in Nextracker Inc. (NASDAQ:NXT) by 13.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,698 shares of the company’s stock after purchasing an additional 4,006 shares during the period. Thrivent Financial for Lutherans’ holdings in Nextracker were worth $1,263,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NXT. GAMMA Investing LLC boosted its position in 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 buying an additional 279 shares during the period. TFC Financial Management Inc. purchased a new stake in Nextracker during the 2nd quarter valued at about $32,000. Fifth Third Bancorp grew its position 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 acquiring an additional 641 shares during the last quarter. Rothschild Investment LLC bought a new position in Nextracker during the 2nd quarter worth approximately $35,000. Finally, Hilltop National Bank increased its stake in Nextracker by 40.6% in the 2nd 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. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Performance

NXT stock opened at $38.16 on Monday. The stock’s 50 day simple moving average is $36.78 and its 200 day simple moving average is $42.92. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The stock has a market capitalization of $5.55 billion, a PE ratio of 9.52 and a beta of 2.32.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NXT. Truist Financial raised their target price on shares of Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim reissued a “buy” rating and issued a $55.00 price target on shares of Nextracker in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company dropped their target price on shares of Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, BMO Capital Markets reduced their price target on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.