Crossmark Global Holdings Inc. Sells 6,587 Shares of Nextracker Inc. (NASDAQ:NXT)

Crossmark Global Holdings Inc. cut its stake in Nextracker Inc. (NASDAQ:NXT) by 45.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,826 shares of the company’s stock after selling 6,587 shares during the period. Crossmark Global Holdings Inc.’s holdings in Nextracker were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Nextracker by 166.1% during the first quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company’s stock worth $705,149,000 after purchasing an additional 7,821,368 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Nextracker in the 2nd quarter worth about $43,078,000. Earnest Partners LLC acquired a new position in Nextracker during the 1st quarter valued at about $46,593,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nextracker by 1,800.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 846,310 shares of the company’s stock valued at $39,675,000 after purchasing an additional 801,780 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Nextracker by 2,854.7% during the 2nd quarter. Principal Financial Group Inc. now owns 738,456 shares of the company’s stock worth $34,619,000 after purchasing an additional 713,463 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Trading Down 7.4 %

Shares of NXT opened at $36.80 on Monday. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The stock has a market cap of $5.36 billion, a PE ratio of 9.18 and a beta of 2.32. 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 business’s 50-day moving average price is $36.30 and its 200-day moving average price is $43.34.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NXT shares. Robert W. Baird cut their price objective on Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Susquehanna cut their price target on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Barclays decreased their price objective on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Jefferies Financial Group assumed coverage on shares of Nextracker in a research note on Wednesday, September 4th. They issued a “hold” rating and a $46.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Nextracker presently has an average rating of “Moderate Buy” and a consensus price target of $54.95.

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.