BBR Partners LLC Takes $359,000 Position in Nextracker Inc. (NASDAQ:NXT)

BBR Partners LLC acquired a new position in Nextracker Inc. (NASDAQ:NXT) in the third quarter, Holdings Channel reports. The firm acquired 9,567 shares of the company’s stock, valued at approximately $359,000.

Several other large investors also recently added to or reduced their stakes in NXT. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Nextracker in the 2nd quarter valued at approximately $43,078,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Nextracker by 1,800.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock valued at $39,675,000 after buying an additional 801,780 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Nextracker by 2,854.7% in the 2nd quarter. Principal Financial Group Inc. now owns 738,456 shares of the company’s stock valued at $34,619,000 after buying an additional 713,463 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nextracker by 146.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock valued at $53,550,000 after buying an additional 678,261 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Nextracker by 158.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 963,698 shares of the company’s stock valued at $36,119,000 after buying an additional 591,488 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextracker Stock Performance

Shares of NASDAQ NXT opened at $39.71 on Thursday. The business has a fifty day simple moving average of $36.69 and a 200 day simple moving average of $43.00. 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 firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 9.90 and a beta of 2.32. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31.

Analysts Set New Price Targets

Several brokerages recently commented on NXT. Northland Capmk raised Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Roth Mkm decreased their target price on Nextracker from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company decreased their target price on Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Northland Securities reaffirmed an “outperform” rating and set a $48.00 target price on shares of Nextracker in a research report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 target price on shares of Nextracker in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nextracker currently has an average rating of “Moderate Buy” and a consensus target price of $54.30.

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.