Brookfield Corp ON Has $1.80 Million Stake in Nextracker Inc. (NASDAQ:NXT)

Brookfield Corp ON raised its stake in Nextracker Inc. (NASDAQ:NXT) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,077 shares of the company’s stock after purchasing an additional 1,743 shares during the quarter. Brookfield Corp ON’s holdings in Nextracker were worth $1,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Tidal Investments LLC bought a new position in shares of Nextracker during the first quarter valued at about $287,000. Cetera Advisors LLC purchased a new position in Nextracker in the first quarter valued at about $288,000. GAMMA Investing LLC grew its position in shares of Nextracker by 73.2% during the 2nd 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 period. Diversify Advisory Services LLC bought a new stake in shares of Nextracker in the 2nd quarter worth approximately $1,270,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Nextracker by 8.4% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 27,034 shares of the company’s stock valued at $1,267,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Down 0.4 %

Shares of NXT opened at $36.29 on Friday. Nextracker Inc. has a 1 year low of $30.93 and a 1 year high of $62.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99. The stock has a 50 day simple moving average of $36.91 and a two-hundred day simple moving average of $42.78. The firm has a market cap of $5.28 billion, a P/E ratio of 9.05 and a beta of 2.09.

Analysts Set New Price Targets

NXT has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Robert W. Baird lowered their price objective on Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays reduced their target price on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Guggenheim restated a “buy” rating and set a $55.00 price target on shares of Nextracker in a research note on Friday, November 22nd. Finally, BMO Capital Markets lowered their target price on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Four 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’s stock. Based on data from MarketBeat.com, Nextracker presently has an average rating of “Moderate Buy” and an average target price of $54.30.

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.