AQR Capital Management LLC increased its position in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 647.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,867 shares of the company's stock after acquiring an additional 115,948 shares during the period. AQR Capital Management LLC owned about 0.09% of Nextracker worth $4,890,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its stake in Nextracker by 52.4% during the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock worth $29,000 after purchasing an additional 276 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Nextracker by 448.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock worth $47,000 after buying an additional 1,055 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Nextracker during the fourth quarter worth approximately $48,000. Principal Securities Inc. raised its holdings in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company's stock valued at $51,000 after acquiring an additional 410 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Nextracker by 92.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock worth $66,000 after acquiring an additional 873 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.
Nextracker Stock Performance
Shares of NXT stock traded up $1.91 during mid-day trading on Friday, hitting $46.51. The stock had a trading volume of 2,072,412 shares, compared to its average volume of 2,940,491. The firm has a market cap of $6.77 billion, a PE ratio of 11.83 and a beta of 2.03. The company's 50-day simple moving average is $42.09 and its 200-day simple moving average is $41.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.20 and a quick ratio of 1.96. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31.
Insider Activity at Nextracker
In other Nextracker news, insider Bruce Ledesma sold 9,891 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $46.05, for a total transaction of $455,480.55. Following the sale, the insider now directly owns 132,374 shares in the company, valued at approximately $6,095,822.70. The trade was a 6.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is owned by insiders.
Analysts Set New Price Targets
NXT has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Nextracker from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group lifted their price target on Nextracker from $60.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. Guggenheim upped their price objective on Nextracker from $50.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Northland Securities restated an "outperform" rating and set a $55.00 target price (up previously from $48.00) on shares of Nextracker in a research note on Wednesday, January 29th. Finally, The Goldman Sachs Group increased their price target on shares of Nextracker from $54.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Nextracker currently has an average rating of "Moderate Buy" and a consensus price target of $55.70.
Read Our Latest Stock Analysis on NXT
Nextracker Profile
(
Free Report)
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.
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