Nextracker Inc. (NASDAQ:NXT) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its position in Nextracker Inc. (NASDAQ:NXT) by 21.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 944 shares of the company’s stock after selling 265 shares during the quarter. GAMMA Investing LLC’s holdings in Nextracker were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NXT. Holocene Advisors LP acquired a new position in shares of Nextracker in the 3rd quarter valued at $45,416,000. Erste Asset Management GmbH purchased a new position in shares of Nextracker in the 3rd quarter worth $33,545,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Nextracker by 88.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,591,975 shares of the company’s stock worth $59,667,000 after buying an additional 745,665 shares during the period. State Street Corp boosted its holdings in Nextracker by 15.8% in the third quarter. State Street Corp now owns 5,070,473 shares of the company’s stock valued at $190,041,000 after acquiring an additional 690,343 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Nextracker by 25.5% during the third quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock valued at $127,169,000 after acquiring an additional 688,810 shares during the period. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. 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 research report on Thursday, November 7th. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company reduced their target price on shares of Nextracker from $70.00 to $69.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Northland Securities reaffirmed an “outperform” rating and set a $48.00 price target on shares of Nextracker in a research report on Tuesday, November 19th. Finally, BMO Capital Markets cut their price objective on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Nextracker currently has an average rating of “Moderate Buy” and an average price target of $53.10.

Nextracker Stock Performance

Shares of NASDAQ NXT opened at $42.35 on Wednesday. The stock’s fifty day simple moving average is $38.29 and its 200 day simple moving average is $39.34. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 10.56 and a beta of 2.04. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

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.