NXT has been the topic of a number of other research reports. Barclays cut their price target on shares of Nextracker from $61.00 to $47.00 and set an "equal weight" rating on the stock in a report on Thursday, October 3rd. Bank of America cut their target price on shares of Nextracker from $65.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Truist Financial raised their price target on Nextracker from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, November 1st. 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 research report on Thursday, October 17th. Finally, Robert W. Baird dropped their price target on Nextracker from $71.00 to $53.00 and set an "outperform" rating on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.10.

View Our Latest Stock Analysis on Nextracker

Shares of Nextracker stock traded down $2.10 during trading on Wednesday, hitting $41.82. 765,098 shares of the stock traded hands, compared to its average volume of 2,494,454. The company has a fifty day moving average price of $38.05 and a two-hundred day moving average price of $39.58. Nextracker has a twelve month low of $30.93 and a twelve month high of $62.31. The stock has a market cap of $6.09 billion, a P/E ratio of 10.43 and a beta of 2.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21.

Institutional investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its position in Nextracker by 1.1% during the second quarter. Arizona State Retirement System now owns 34,403 shares of the company's stock worth $1,613,000 after purchasing an additional 372 shares during the period. Quarry LP boosted its holdings in shares of Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company's stock worth $42,000 after buying an additional 426 shares during the period. Wedbush Securities Inc. grew its stake in Nextracker by 8.2% in the 2nd quarter. Wedbush Securities Inc. now owns 6,080 shares of the company's stock valued at $285,000 after buying an additional 461 shares during the last quarter. HighTower Advisors LLC raised its holdings in Nextracker by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 29,777 shares of the company's stock valued at $1,115,000 after acquiring an additional 519 shares during the period. Finally, GAMMA Investing LLC lifted its position in Nextracker by 83.2% during the third quarter. GAMMA Investing LLC now owns 1,209 shares of the company's stock worth $45,000 after acquiring an additional 549 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

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.

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