Marshall Wace LLP Has $32.31 Million Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Marshall Wace LLP boosted its position in Nextracker Inc. (NASDAQ:NXT) by 144.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 689,105 shares of the company’s stock after purchasing an additional 406,756 shares during the period. Marshall Wace LLP’s holdings in Nextracker were worth $32,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC increased its holdings in shares of Nextracker by 228.3% in the first quarter. Virtu Financial LLC now owns 38,393 shares of the company’s stock valued at $2,160,000 after purchasing an additional 26,700 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Nextracker by 22.7% in the 4th quarter. Hsbc Holdings PLC now owns 290,852 shares of the company’s stock valued at $13,503,000 after acquiring an additional 53,904 shares during the period. Graybill Wealth Management LTD. acquired a new stake in Nextracker during the first quarter worth approximately $1,643,000. Diversify Advisory Services LLC bought a new stake in shares of Nextracker during the second quarter worth approximately $1,270,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Nextracker in the first quarter valued at approximately $2,819,000. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Up 3.2 %

Shares of NASDAQ:NXT opened at $37.56 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.11. Nextracker Inc. has a 52-week low of $32.14 and a 52-week high of $62.31. The company has a market capitalization of $5.45 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 5.32 and a beta of 2.47. The company has a fifty day moving average of $40.37 and a 200-day moving average of $47.32.

Nextracker (NASDAQ:NXT) last posted its earnings results on Thursday, August 1st. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.66 by $0.27. Nextracker had a negative return on equity of 36.33% and a net margin of 14.87%. The firm had revenue of $719.92 million during the quarter, compared to the consensus estimate of $616.71 million. During the same period last year, the company earned $0.48 earnings per share. The business’s quarterly revenue was up 50.1% on a year-over-year basis. On average, equities analysts predict that Nextracker Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NXT. Jefferies Financial Group initiated coverage on Nextracker in a report on Wednesday, September 4th. They set a “hold” rating and a $46.00 price target for the company. Barclays dropped their target price on Nextracker from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Roth Mkm decreased their price target on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Bank of America lifted their price objective on shares of Nextracker from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Nextracker from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Nextracker currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.18.

About Nextracker

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.