Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Nextracker Inc. (NASDAQ:NXT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nextracker Inc. (NASDAQ:NXT) by 88.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,591,975 shares of the company’s stock after purchasing an additional 745,665 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 1.09% of Nextracker worth $59,667,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Nextracker by 73.2% during the second quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after purchasing an additional 279 shares during the period. Hilltop National Bank lifted its holdings in shares of Nextracker by 40.6% during the 2nd quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock valued at $56,000 after buying an additional 343 shares during the period. Arizona State Retirement System boosted its stake in shares of Nextracker by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 34,403 shares of the company’s stock worth $1,613,000 after buying an additional 372 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Nextracker by 8.2% in the second quarter. Wedbush Securities Inc. now owns 6,080 shares of the company’s stock worth $285,000 after acquiring an additional 461 shares during the period. Finally, Graybill Wealth Management LTD. increased its position in Nextracker by 1.7% during the second quarter. Graybill Wealth Management LTD. now owns 29,678 shares of the company’s stock valued at $1,391,000 after acquiring an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NXT shares. Guggenheim reissued a “buy” rating and issued a $55.00 target price on shares of Nextracker in a research report on Friday, November 22nd. Susquehanna dropped their price objective on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. BMO Capital Markets reduced their target price on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price target on shares of Nextracker in a research report on Friday, August 2nd. Finally, Barclays cut their price objective on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nextracker currently has an average rating of “Moderate Buy” and an average target price of $54.30.

Nextracker Trading Up 2.2 %

Shares of NASDAQ NXT opened at $39.71 on Thursday. The stock has a market capitalization of $5.78 billion, a P/E ratio of 9.90 and a beta of 2.32. Nextracker Inc. has a 1-year low of $30.93 and a 1-year high of $62.31. The business’s 50 day moving average is $36.69 and its two-hundred day moving average is $43.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.21 and a quick ratio of 1.99.

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.