Janus Henderson Group PLC Increases Holdings in Nextracker Inc. (NASDAQ:NXT)

Janus Henderson Group PLC lifted its position in shares of Nextracker Inc. (NASDAQ:NXT) by 4.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,529,201 shares of the company’s stock after purchasing an additional 65,177 shares during the quarter. Janus Henderson Group PLC’s holdings in Nextracker were worth $57,285,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC bought a new position in Nextracker during the 1st quarter worth approximately $287,000. Cetera Advisors LLC bought a new position in Nextracker during the 1st quarter worth approximately $288,000. GAMMA Investing LLC grew its position in 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 last quarter. Diversify Advisory Services LLC bought a new position in Nextracker during the 2nd quarter worth approximately $1,270,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Nextracker by 8.4% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 27,034 shares of the company’s stock worth $1,267,000 after acquiring an additional 2,100 shares during the last quarter. 67.41% of the stock is owned by hedge funds and other institutional investors.

Nextracker Stock Performance

Shares of NXT opened at $36.42 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.21 and a debt-to-equity ratio of 0.11. The business has a 50-day simple moving average of $36.91 and a two-hundred day simple moving average of $42.78. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 9.08 and a beta of 2.09. Nextracker Inc. has a 52 week low of $30.93 and a 52 week high of $62.31.

Analysts Set New Price Targets

NXT has been the topic of several recent research reports. Jefferies Financial Group began coverage on Nextracker in a research report on Wednesday, September 4th. They set a “hold” rating and a $46.00 price target on the stock. Robert W. Baird dropped 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. JPMorgan Chase & Co. dropped their target price on Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Truist Financial boosted their target price on Nextracker from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Susquehanna lowered their price target on Nextracker from $59.00 to $50.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.30.

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.