Nextracker Inc. (NASDAQ:NXT – Get Free Report) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $44.78.
A number of research firms have recently weighed in on NXT. JPMorgan Chase & Co. raised their price target on shares of Nextracker from $44.00 to $50.00 in a report on Wednesday, July 19th. Citigroup raised their target price on shares of Nextracker from $42.00 to $43.00 in a research note on Thursday, July 27th. Barclays raised their target price on shares of Nextracker from $42.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Wolfe Research assumed coverage on shares of Nextracker in a research note on Friday. They issued an “outperform” rating and a $52.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Nextracker in a research report on Monday, September 18th. They issued an “equal weight” rating and a $44.00 price target on the stock.
Check Out Our Latest Report on NXT
Insider Activity at Nextracker
Institutional Investors Weigh In On Nextracker
Large investors have recently bought and sold shares of the company. Level Four Advisory Services LLC lifted its holdings in shares of Nextracker by 1.9% in the second quarter. Level Four Advisory Services LLC now owns 19,173 shares of the company’s stock worth $763,000 after acquiring an additional 361 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Nextracker in the 2nd quarter valued at approximately $34,000. Tower Research Capital LLC TRC bought a new position in Nextracker during the 1st quarter worth approximately $55,000. Parallel Advisors LLC bought a new position in Nextracker during the 1st quarter worth approximately $72,000. Finally, Shell Asset Management Co. acquired a new stake in shares of Nextracker during the 2nd quarter worth approximately $85,000. 44.28% of the stock is currently owned by institutional investors and hedge funds.
Nextracker Trading Down 0.7 %
NXT stock opened at $40.81 on Friday. Nextracker has a 12-month low of $28.24 and a 12-month high of $46.55. The company has a 50 day moving average of $40.95 and a two-hundred day moving average of $37.69.
Nextracker (NASDAQ:NXT – Get Free Report) last released its earnings results on Wednesday, July 26th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. The company had revenue of $479.50 million during the quarter, compared to analysts’ expectations of $473.69 million. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts expect that Nextracker will post 1.34 EPS for the current fiscal year.
About Nextracker
Nextracker Inc, an energy solutions company, provides solar tracker and software solutions for utility-scale and ground-mounted distributed generation solar projects worldwide. The company offers tracking solutions, which includes NX Horizon, a solar tracking solution; NX Gemini, a two-in-portrait format tracker, which holds two rows of solar panels along the central support beam; 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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