Hilltop National Bank Acquires 891 Shares of Nextracker Inc. (NASDAQ:NXT)

Hilltop National Bank raised its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 75.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,078 shares of the company’s stock after acquiring an additional 891 shares during the quarter. Hilltop National Bank’s holdings in Nextracker were worth $76,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Nextracker by 15.8% during the 3rd quarter. State Street Corp now owns 5,070,473 shares of the company’s stock worth $190,041,000 after acquiring an additional 690,343 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Nextracker by 23.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,593,938 shares of the company’s stock worth $134,724,000 after acquiring an additional 679,272 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Nextracker by 25.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,392,992 shares of the company’s stock worth $127,169,000 after acquiring an additional 688,810 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Nextracker by 15.4% during the 3rd quarter. Victory Capital Management Inc. now owns 2,367,636 shares of the company’s stock worth $88,739,000 after acquiring an additional 315,199 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Nextracker by 35.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,766,871 shares of the company’s stock worth $82,844,000 after acquiring an additional 460,739 shares in the last quarter. 67.41% of the stock is owned by institutional investors.

Nextracker Trading Down 3.4 %

NXT opened at $41.10 on Friday. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. The company has a 50-day simple moving average of $38.35 and a 200 day simple moving average of $39.55. 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 stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 10.25 and a beta of 2.04.

Analyst Ratings Changes

Several equities research analysts have recently commented on NXT shares. Guggenheim reissued a “buy” rating and issued a $55.00 price objective on shares of Nextracker in a report on Friday, November 22nd. Citigroup cut their price objective on Nextracker from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Barclays cut their price objective on Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Northland Securities reaffirmed an “outperform” rating and set a $48.00 price target on shares of Nextracker in a report on Tuesday, November 19th. Five 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.10.

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.