Nextracker Inc. (NASDAQ:NXT) Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its stake in Nextracker Inc. (NASDAQ:NXT) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,263 shares of the company’s stock after buying an additional 37,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Nextracker were worth $20,588,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Nextracker by 166.1% during the first quarter. Vanguard Group Inc. now owns 12,531,526 shares of the company’s stock valued at $705,149,000 after purchasing an additional 7,821,368 shares during the period. Norges Bank acquired a new position in shares of Nextracker during the fourth quarter valued at $120,861,000. Victory Capital Management Inc. increased its holdings in shares of Nextracker by 5.7% during the second quarter. Victory Capital Management Inc. now owns 2,052,437 shares of the company’s stock valued at $96,218,000 after purchasing an additional 110,707 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Nextracker by 146.2% during the second quarter. Bank of New York Mellon Corp now owns 1,142,274 shares of the company’s stock valued at $53,550,000 after purchasing an additional 678,261 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Nextracker during the second quarter valued at $43,078,000. 67.41% of the stock is owned by institutional investors and hedge funds.

Nextracker Trading Up 5.1 %

Shares of NASDAQ NXT opened at $37.67 on Monday. Nextracker Inc. has a one year low of $32.14 and a one year high of $62.31. The firm has a market capitalization of $5.48 billion, a PE ratio of 11.21, a PEG ratio of 5.16 and a beta of 2.47. The company has a current ratio of 2.11, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $42.30 and a two-hundred day moving average price of $48.43.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.27. Nextracker had a negative return on equity of 36.33% and a net margin of 14.87%. The firm had revenue of $719.92 million during the quarter, compared to analyst estimates of $616.71 million. During the same period last year, the company posted $0.48 EPS. The business’s quarterly revenue was up 50.1% compared to the same quarter last year. As a group, analysts predict that Nextracker Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on NXT shares. Susquehanna started coverage on Nextracker in a research note on Friday, June 28th. They set a “positive” rating and a $59.00 target price for the company. Guggenheim decreased their target price on Nextracker from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 target price on shares of Nextracker in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Nextracker from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America raised their target price on Nextracker from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.91.

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.