Virtu Financial LLC Decreases Holdings in Nextracker Inc. (NASDAQ:NXT)

Virtu Financial LLC reduced its position in Nextracker Inc. (NASDAQ:NXT) by 64.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,023 shares of the company’s stock after selling 44,611 shares during the quarter. Virtu Financial LLC’s holdings in Nextracker were worth $938,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Nextracker in the 2nd quarter worth $4,622,000. Secure Asset Management LLC acquired a new stake in Nextracker in the third quarter worth about $1,370,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Nextracker by 33.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,226,862 shares of the company’s stock worth $45,983,000 after acquiring an additional 307,956 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Nextracker by 30.7% during the third quarter. Van ECK Associates Corp now owns 60,613 shares of the company’s stock worth $2,272,000 after acquiring an additional 14,249 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in shares of Nextracker by 1,033.9% during the second quarter. Great Lakes Advisors LLC now owns 91,187 shares of the company’s stock valued at $4,275,000 after acquiring an additional 83,145 shares in the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Northland Capmk raised Nextracker to a “strong-buy” rating in a research report on Tuesday, November 19th. Bank of America lowered their price target on Nextracker from $65.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. BMO Capital Markets cut their price objective on Nextracker from $56.00 to $44.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Finally, Truist Financial lifted 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. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.30.

Nextracker Price Performance

Shares of Nextracker stock opened at $35.47 on Friday. The firm has a market cap of $5.16 billion, a PE ratio of 8.85 and a beta of 2.09. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31. 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 moving average price of $36.82 and a 200 day moving average price of $42.15.

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.