Clear Harbor Asset Management LLC Acquires 584 Shares of Nextracker Inc. (NASDAQ:NXT)

Clear Harbor Asset Management LLC lifted its holdings in shares of Nextracker Inc. (NASDAQ:NXT) by 0.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 152,153 shares of the company’s stock after acquiring an additional 584 shares during the period. Clear Harbor Asset Management LLC owned approximately 0.10% of Nextracker worth $5,703,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NXT. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 73.2% during the 2nd quarter. GAMMA Investing LLC now owns 660 shares of the company’s stock worth $31,000 after acquiring an additional 279 shares during the period. TFC Financial Management Inc. bought a new position in shares of Nextracker during the 2nd quarter worth about $32,000. Fifth Third Bancorp lifted its holdings 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 last quarter. Rothschild Investment LLC bought a new position in Nextracker during the 2nd quarter valued at about $35,000. Finally, Toth Financial Advisory Corp bought a new position in Nextracker during the 1st quarter valued at about $38,000. 67.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NXT. Truist Financial cut their price target on shares of Nextracker from $65.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Roth Mkm cut their price target on shares of Nextracker from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $55.00 price target on shares of Nextracker in a report on Friday, August 2nd. Susquehanna cut their price target on shares of Nextracker from $59.00 to $50.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.65.

Nextracker Stock Up 0.5 %

Shares of NASDAQ:NXT opened at $31.46 on Friday. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The company has a 50 day moving average of $36.60 and a 200-day moving average of $44.01. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.91. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 8.34 and a beta of 2.47.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.27. The firm had revenue of $719.92 million during the quarter, compared to analysts’ expectations of $616.71 million. Nextracker had a net margin of 14.87% and a negative return on equity of 36.33%. The business’s revenue for the quarter was up 50.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, sell-side analysts forecast that Nextracker Inc. will post 2.52 earnings per share for the current year.

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.