2,560 Shares in Nextracker Inc. (NASDAQ:NXT) Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division purchased a new stake in Nextracker Inc. (NASDAQ:NXT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,560 shares of the company’s stock, valued at approximately $94,000.

A number of other hedge funds also recently modified their holdings of the company. Everence Capital Management Inc. acquired a new position in shares of Nextracker in the 4th quarter valued at $331,000. Retirement Systems of Alabama raised its position in Nextracker by 14.9% in the third quarter. Retirement Systems of Alabama now owns 174,244 shares of the company’s stock worth $6,531,000 after purchasing an additional 22,570 shares in the last quarter. Neo Ivy Capital Management bought a new position in Nextracker during the third quarter worth about $74,000. Geode Capital Management LLC boosted its holdings in Nextracker by 23.3% during the third quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock valued at $134,724,000 after purchasing an additional 679,272 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Nextracker by 31.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 17,394 shares of the company’s stock valued at $652,000 after purchasing an additional 4,138 shares during the period. Institutional investors own 67.41% of the company’s stock.

Nextracker Trading Up 0.3 %

Shares of NASDAQ NXT opened at $39.63 on Monday. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The firm has a market capitalization of $5.77 billion, a P/E ratio of 9.88 and a beta of 2.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The company’s 50 day simple moving average is $37.66 and its 200 day simple moving average is $39.90.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NXT shares. Guggenheim restated a “buy” rating and set a $55.00 target price on shares of Nextracker in a research report on Friday, November 22nd. The Goldman Sachs Group reduced their target price 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. BMO Capital Markets dropped their target price 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. Piper Sandler reduced their price target on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Five research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

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.