Nextracker (NASDAQ:NXT) PT Raised to $44.00 at Truist Financial

Posted by on May 13th, 2023

Nextracker (NASDAQ:NXT – Get Rating) had its price target increased by equities research analysts at Truist Financial from $40.00 to $44.00 in a research note issued on Thursday, The Fly reports. Truist Financial’s price target indicates a potential upside of 11.70% from the stock’s current price.

NXT has been the subject of a number of other reports. Roth Mkm initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They set a “buy” rating and a $45.00 price objective for the company. Scotiabank initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They issued a “sector outperform” rating and a $38.00 price target for the company. KeyCorp initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They issued a “sector weight” rating for the company. Citigroup initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, Mizuho initiated coverage on shares of Nextracker in a research report on Monday, March 6th. They issued a “buy” rating and a $40.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.64.

Nextracker Stock Up 11.2 %

NXT stock opened at $39.39 on Thursday. The stock’s 50 day moving average is $32.73. Nextracker has a 1 year low of $28.24 and a 1 year high of $40.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NXT. Tower Research Capital LLC TRC acquired a new position in Nextracker during the first quarter worth $55,000. Parallel Advisors LLC acquired a new position in Nextracker during the first quarter worth $72,000. Ameritas Investment Partners Inc. acquired a new position in Nextracker during the first quarter worth $90,000. Amalgamated Bank acquired a new position in Nextracker during the first quarter worth $154,000. Finally, Virtu Financial LLC acquired a new position in Nextracker during the first quarter worth $200,000.

Nextracker Company Profile

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Nextracker Inc is a provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar power plants. Nextracker Inc is based in SAN JOSE, Calif.

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