Healthcare of Ontario Pension Plan Trust Fund Has $13.79 Million Stock Position in Nextracker Inc. (NASDAQ:NXT)

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Nextracker Inc. (NASDAQ:NXT) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 367,895 shares of the company’s stock after buying an additional 8,220 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Nextracker were worth $13,789,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of Nextracker by 73.2% in the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. Hilltop National Bank raised its stake in shares of Nextracker by 40.6% in the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock valued at $56,000 after acquiring an additional 343 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Nextracker by 1.1% in the second quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock valued at $1,613,000 after acquiring an additional 372 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Nextracker by 8.2% in the second quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock valued at $285,000 after acquiring an additional 461 shares during the last quarter. Finally, Graybill Wealth Management LTD. raised its stake in shares of Nextracker by 1.7% in the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company’s stock valued at $1,391,000 after acquiring an additional 483 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analysts Forecast Growth

NXT has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and issued a $55.00 target price on shares of Nextracker in a research note on Friday, November 22nd. Robert W. Baird dropped their price objective on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Barclays dropped their price objective on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on shares of Nextracker from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 price objective on shares of Nextracker in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.30.

Nextracker Price Performance

Shares of NXT stock opened at $39.71 on Friday. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 9.90 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 firm has a fifty day moving average of $36.75 and a 200-day moving average of $42.98.

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.