Aigen Investment Management LP Takes $247,000 Position in Nextracker Inc. (NASDAQ:NXT)

Aigen Investment Management LP acquired a new position in Nextracker Inc. (NASDAQ:NXT) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,592 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proactive Wealth Strategies LLC purchased a new stake in shares of Nextracker during the 3rd quarter worth $1,324,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Nextracker by 11.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 51,670 shares of the company’s stock valued at $1,937,000 after buying an additional 5,489 shares in the last quarter. Covestor Ltd grew its position in shares of Nextracker by 240.9% in the 3rd quarter. Covestor Ltd now owns 3,010 shares of the company’s stock worth $113,000 after buying an additional 2,127 shares during the last quarter. Amalgamated Bank raised its stake in shares of Nextracker by 10.7% during the 3rd quarter. Amalgamated Bank now owns 65,762 shares of the company’s stock worth $2,465,000 after acquiring an additional 6,344 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Nextracker by 30.7% during the third quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock valued at $2,272,000 after acquiring an additional 14,249 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Nextracker Stock Down 7.4 %

NASDAQ NXT opened at $36.80 on Friday. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21. The business has a fifty day moving average price of $36.30 and a 200 day moving average price of $43.33. The company has a market cap of $5.36 billion, a P/E ratio of 9.18 and a beta of 2.32.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird reduced their price target on Nextracker from $71.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Susquehanna decreased their price target on Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Jefferies Financial Group initiated coverage on Nextracker in a report on Wednesday, September 4th. They issued a “hold” rating and a $46.00 price target for the company. Barclays cut their price objective on shares of Nextracker from $61.00 to $47.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Roth Mkm decreased their price objective on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.95.

Nextracker 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.