Nextracker Inc. (NASDAQ:NXT) Shares Sold by Centiva Capital LP

Centiva Capital LP lessened its stake in shares of Nextracker Inc. (NASDAQ:NXT - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,960 shares of the company's stock after selling 17,399 shares during the quarter. Centiva Capital LP's holdings in Nextracker were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in shares of Nextracker by 52.4% in the 4th quarter. Allworth Financial LP now owns 803 shares of the company's stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Nextracker by 448.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the company's stock valued at $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 in the fourth quarter worth approximately $48,000. Principal Securities Inc. raised its position in Nextracker by 41.8% during 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 grew its holdings in Nextracker by 92.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,817 shares of the company's stock valued at $66,000 after purchasing an additional 873 shares during the last quarter. Hedge funds and other institutional investors own 67.41% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Robert W. Baird reduced their target price on Nextracker from $59.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their price objective on Nextracker from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Barclays lowered their price target on Nextracker from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. BNP Paribas raised Nextracker to a "strong-buy" rating in a research note on Wednesday, January 29th. Finally, Guggenheim boosted their price objective on Nextracker from $50.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.70.

Nextracker Trading Up 8.8%

NXT stock traded up $4.09 during trading on Monday, hitting $50.63. The company had a trading volume of 4,307,513 shares, compared to its average volume of 2,945,960. The company has a quick ratio of 1.96, a current ratio of 2.20 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.37 billion, a P/E ratio of 12.88 and a beta of 2.03. The company has a 50 day simple moving average of $42.09 and a 200-day simple moving average of $41.31. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31.

About Nextracker

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.