Thrivent Financial for Lutherans Buys 4,006 Shares of Nextracker Inc. (NASDAQ:NXT)

Thrivent Financial for Lutherans increased its stake in Nextracker Inc. (NASDAQ:NXT) by 13.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 33,698 shares of the company’s stock after buying an additional 4,006 shares during the period. Thrivent Financial for Lutherans’ holdings in Nextracker were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Nextracker by 15.4% in the 3rd quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company’s stock worth $88,739,000 after purchasing an additional 315,199 shares during the period. Dimensional Fund Advisors LP increased its holdings in Nextracker by 35.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,766,871 shares of the company’s stock valued at $82,844,000 after buying an additional 460,739 shares during the last quarter. Handelsbanken Fonder AB raised its position in Nextracker by 5.3% in the third quarter. Handelsbanken Fonder AB now owns 1,675,617 shares of the company’s stock worth $62,802,000 after acquiring an additional 84,069 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Nextracker by 146.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock worth $53,550,000 after acquiring an additional 678,261 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Nextracker by 158.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 963,698 shares of the company’s stock valued at $36,119,000 after acquiring an additional 591,488 shares during the period. Institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NXT. Bank of America decreased their target price on Nextracker from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. BMO Capital Markets decreased their price objective on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research note on Monday, October 14th. Barclays lowered their price objective on Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Northland Capmk raised shares of Nextracker to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Four equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.30.

Nextracker Trading Down 3.9 %

Shares of Nextracker stock opened at $38.16 on Monday. 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 cap of $5.55 billion, a price-to-earnings ratio of 9.52 and a beta of 2.32. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The business has a 50-day moving average price of $36.78 and a 200-day moving average price of $42.92.

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.