New York State Teachers Retirement System Acquires 9,279 Shares of Nextracker Inc. (NASDAQ:NXT)

New York State Teachers Retirement System lifted its position in Nextracker Inc. (NASDAQ:NXT) by 9.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,476 shares of the company’s stock after acquiring an additional 9,279 shares during the quarter. New York State Teachers Retirement System’s holdings in Nextracker were worth $4,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in 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 purchasing an additional 279 shares during the period. Fifth Third Bancorp increased its position in Nextracker by 1,602.5% during the 2nd quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock valued at $32,000 after purchasing an additional 641 shares during the period. TFC Financial Management Inc. purchased a new position in Nextracker during the 2nd quarter valued at about $32,000. Rothschild Investment LLC purchased a new position in Nextracker during the 2nd quarter valued at about $35,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Nextracker during the 1st quarter valued at about $44,000. Institutional investors own 67.41% of the company’s stock.

Nextracker Stock Down 5.6 %

NXT stock opened at $41.63 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31. The firm has a 50 day moving average of $36.18 and a 200 day moving average of $43.56. The stock has a market capitalization of $6.05 billion, a PE ratio of 10.38 and a beta of 2.32.

Analyst Upgrades and Downgrades

A number of research firms have commented on NXT. Barclays cut their target price on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial raised their target price on shares of Nextracker from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. BMO Capital Markets cut their price objective on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a research report on Monday, October 14th. Jefferies Financial Group began coverage on shares of Nextracker in a research report on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price objective on the stock. Finally, Robert W. Baird cut their price objective on shares of Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.65.

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.