Stifel Financial Corp Has $1.16 Million Stake in Nextracker Inc. (NASDAQ:NXT)

Stifel Financial Corp reduced its position in shares of Nextracker Inc. (NASDAQ:NXT) by 45.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,929 shares of the company’s stock after selling 25,611 shares during the quarter. Stifel Financial Corp’s holdings in Nextracker were worth $1,159,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Nextracker by 1,602.5% during the second quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock worth $32,000 after purchasing an additional 641 shares during the period. Rothschild Investment LLC bought a new stake in shares of Nextracker during the 2nd quarter worth about $35,000. Quarry LP grew its stake in Nextracker by 61.5% in the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after buying an additional 426 shares during the last quarter. GAMMA Investing LLC raised its holdings in Nextracker by 83.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after acquiring an additional 549 shares during the period. Finally, Arcadia Investment Management Corp MI acquired a new stake in Nextracker during the third quarter worth approximately $75,000. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Trading Up 3.9 %

Shares of NXT stock opened at $35.15 on Monday. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The stock’s fifty day simple moving average is $36.80 and its 200 day simple moving average is $41.35. 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 firm has a market capitalization of $5.12 billion, a P/E ratio of 8.77 and a beta of 2.09.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NXT. Barclays lowered their target price on Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Robert W. Baird dropped their target price on Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group decreased their price target on shares of Nextracker from $63.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Northland Capmk upgraded shares of Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, Susquehanna decreased their target price on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Five investment 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 data from MarketBeat.com, Nextracker currently has an average rating of “Moderate Buy” and an average price target of $52.90.

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.