UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,150 Shares of Nextracker Inc. (NASDAQ:NXT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Nextracker Inc. (NASDAQ:NXT) by 2.0% in the third quarter, HoldingsChannel reports. The firm owned 345,218 shares of the company’s stock after selling 7,150 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Nextracker were worth $12,939,000 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. GAMMA Investing LLC raised its position in Nextracker by 73.2% in the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after acquiring an additional 279 shares during the period. Arizona State Retirement System raised its position in Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock worth $1,613,000 after acquiring an additional 372 shares during the period. Wedbush Securities Inc. raised its position in Nextracker by 8.2% in the second quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock worth $285,000 after acquiring an additional 461 shares during the period. Graybill Wealth Management LTD. raised its position in Nextracker by 1.7% in the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company’s stock worth $1,391,000 after acquiring an additional 483 shares during the period. Finally, Signaturefd LLC raised its position in Nextracker by 37.8% in the third quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock worth $77,000 after acquiring an additional 560 shares during the period. Institutional investors own 67.41% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NXT. BMO Capital Markets decreased their price target on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Susquehanna dropped their price target on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research report on Wednesday, October 16th. Truist Financial upped their price target on shares of Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Northland Capmk upgraded shares of Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. dropped their price target 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. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nextracker has a consensus rating of “Moderate Buy” and a consensus price target of $54.30.

Nextracker Stock Down 0.4 %

Shares of NXT opened at $36.29 on Friday. The company has a market cap of $5.28 billion, a PE ratio of 9.05 and a beta of 2.09. The business has a fifty day moving average of $36.86 and a 200 day moving average of $42.69. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11.

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.