Mutual of America Capital Management LLC Acquires 7,163 Shares of Nextracker Inc. (NASDAQ:NXT)

Mutual of America Capital Management LLC increased its holdings in Nextracker Inc. (NASDAQ:NXT) by 10.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,520 shares of the company’s stock after buying an additional 7,163 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of Nextracker worth $2,905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NXT. GAMMA Investing LLC boosted its holdings in shares of Nextracker by 73.2% in the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock valued at $31,000 after buying an additional 279 shares in the last quarter. TFC Financial Management Inc. purchased a new stake in Nextracker during the second quarter valued at approximately $32,000. Fifth Third Bancorp lifted its position in Nextracker by 1,602.5% during the second quarter. Fifth Third Bancorp now owns 681 shares of the company’s stock valued at $32,000 after acquiring an additional 641 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Nextracker in the second quarter valued at approximately $35,000. Finally, Hilltop National Bank grew its holdings in Nextracker by 40.6% in the second quarter. Hilltop National Bank now owns 1,187 shares of the company’s stock worth $56,000 after purchasing an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analysts Set New Price Targets

NXT has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Susquehanna dropped their price target on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Truist Financial increased their price objective 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. JPMorgan Chase & Co. dropped their target price on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Piper Sandler decreased their price target on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating for the company in a report on Friday. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.30.

Nextracker Stock Up 3.9 %

NXT opened at $38.85 on Friday. The company has a fifty day moving average of $36.53 and a two-hundred day moving average of $43.07. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 9.69 and a beta of 2.32. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week 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.

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.