Nextracker Inc. (NASDAQ:NXT) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 12.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 85,000 shares of the company’s stock after acquiring an additional 9,200 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Nextracker were worth $3,306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NXT. Louisiana State Employees Retirement System boosted its holdings in shares of Nextracker by 14.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 39,800 shares of the company’s stock valued at $1,492,000 after buying an additional 5,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Nextracker by 158.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 963,698 shares of the company’s stock valued at $36,119,000 after buying an additional 591,488 shares in the last quarter. Greystone Financial Group LLC acquired a new position in shares of Nextracker in the 3rd quarter valued at $649,000. Signaturefd LLC boosted its holdings in shares of Nextracker by 37.8% in the 3rd quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock valued at $77,000 after buying an additional 560 shares in the last quarter. Finally, Graybill Wealth Management LTD. boosted its holdings in shares of Nextracker by 4.2% in the 3rd quarter. Graybill Wealth Management LTD. now owns 30,911 shares of the company’s stock valued at $1,159,000 after buying an additional 1,233 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Stock Performance

Shares of NXT opened at $32.33 on Wednesday. The company has a 50-day simple moving average of $36.30 and a 200-day simple moving average of $43.75. The company has a quick ratio of 1.91, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $4.70 billion, a PE ratio of 8.58 and a beta of 2.47. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

Nextracker (NASDAQ:NXT) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.27. The business had revenue of $719.92 million during the quarter, compared to the consensus estimate of $616.71 million. Nextracker had a net margin of 14.87% and a negative return on equity of 36.33%. The business’s revenue was up 50.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 EPS. Equities research analysts predict that Nextracker Inc. will post 2.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NXT. Bank of America upped their target price on shares of Nextracker from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group initiated coverage on shares of Nextracker in a research report on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price target for the company. BMO Capital Markets reduced their price target on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Roth Mkm reduced their price target on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Truist Financial reduced their price target on shares of Nextracker from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.35.

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.