Captrust Financial Advisors Reduces Position in Nextracker Inc. (NASDAQ:NXT)

Captrust Financial Advisors cut its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 17.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,818 shares of the company’s stock after selling 1,261 shares during the quarter. Captrust Financial Advisors’ holdings in Nextracker were worth $218,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Nextracker by 1,602.5% in the second quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock valued at $32,000 after purchasing an additional 641 shares during the last quarter. TFC Financial Management Inc. purchased a new stake in Nextracker in the second quarter valued at $32,000. Rothschild Investment LLC purchased a new stake in Nextracker in the second quarter valued at $35,000. GAMMA Investing LLC boosted its holdings in Nextracker by 83.2% in the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after purchasing an additional 549 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in Nextracker in the third quarter valued at $75,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Stock Up 0.7 %

NXT stock opened at $35.47 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.16 billion, a P/E ratio of 8.85 and a beta of 2.09. The company’s 50-day moving average price is $36.82 and its 200 day moving average price is $41.96. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Nextracker in a report on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price target on the stock. Northland Securities reiterated an “outperform” rating and issued a $48.00 price objective on shares of Nextracker in a research report on Tuesday, November 19th. Northland Capmk upgraded shares of Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets decreased their price objective on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Finally, Bank of America decreased their price objective on shares of Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.30.

About Nextracker

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.