9,050 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new stake in shares of Nextracker Inc. (NASDAQ:NXT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,050 shares of the company’s stock, valued at approximately $331,000.

Several other large investors have also recently bought and sold shares of the company. Quarry LP raised its position in shares of Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after purchasing an additional 426 shares during the period. GAMMA Investing LLC raised its holdings in Nextracker by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock worth $45,000 after buying an additional 549 shares during the period. Neo Ivy Capital Management bought a new position in Nextracker in the third quarter valued at approximately $74,000. Arcadia Investment Management Corp MI acquired a new position in shares of Nextracker in the third quarter valued at approximately $75,000. Finally, Signaturefd LLC increased its position in shares of Nextracker by 37.8% during the third quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock worth $77,000 after acquiring an additional 560 shares in the last quarter. Institutional investors own 67.41% of the company’s stock.

Analysts Set New Price Targets

NXT has been the subject of a number of research analyst reports. Susquehanna reduced their target price on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. BMO Capital Markets cut their target price 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. The Goldman Sachs Group decreased their price target on shares of Nextracker from $63.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.90.

Nextracker Stock Up 2.7 %

NXT stock opened at $40.71 on Tuesday. The business’s 50 day simple moving average is $37.66 and its 200 day simple moving average is $39.77. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The firm has a market capitalization of $5.93 billion, a PE ratio of 10.15 and a beta of 2.04. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11.

Nextracker 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.