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

Hilltop National Bank grew its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 75.1% in the 4th quarter, Holdings Channel reports. The fund owned 2,078 shares of the company’s stock after buying an additional 891 shares during the period. Hilltop National Bank’s holdings in Nextracker were worth $76,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its stake in Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares in the last quarter. GAMMA Investing LLC raised its stake 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 in the last quarter. Neo Ivy Capital Management acquired a new position in Nextracker during the third quarter worth about $74,000. Arcadia Investment Management Corp MI acquired a new position in Nextracker during the third quarter worth about $75,000. Finally, Signaturefd LLC raised its stake in Nextracker by 37.8% during the third quarter. Signaturefd LLC now owns 2,043 shares of the company’s stock worth $77,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Nextracker Price Performance

Shares of NXT opened at $41.10 on Friday. Nextracker Inc. has a 12-month low of $30.93 and a 12-month high of $62.31. The business’s fifty day moving average is $38.35 and its 200 day moving average is $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 cap of $5.98 billion, a P/E ratio of 10.25 and a beta of 2.04.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays lowered their target price on Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group lowered their price objective on Nextracker from $63.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Northland Securities reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Nextracker in a research note on Tuesday, November 19th. Northland Capmk raised Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets reduced their target price on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.