Clear Harbor Asset Management LLC Boosts Stock Holdings in Nextracker Inc. (NASDAQ:NXT)

Clear Harbor Asset Management LLC lifted its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 153,239 shares of the company’s stock after purchasing an additional 1,086 shares during the period. Clear Harbor Asset Management LLC’s holdings in Nextracker were worth $5,598,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Trium Capital LLP raised its stake in Nextracker by 18.8% during the 4th quarter. Trium Capital LLP now owns 7,666 shares of the company’s stock worth $280,000 after acquiring an additional 1,213 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Nextracker by 29.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 96,792 shares of the company’s stock worth $3,536,000 after purchasing an additional 21,760 shares during the period. Hilltop National Bank grew its position in Nextracker by 75.1% during the 4th quarter. Hilltop National Bank now owns 2,078 shares of the company’s stock worth $76,000 after purchasing an additional 891 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Nextracker in the fourth quarter valued at about $5,734,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Nextracker during the fourth quarter worth about $94,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NXT. TD Cowen assumed coverage on shares of Nextracker in a research report on Thursday, December 19th. They set a “hold” rating and a $41.00 price objective for the company. Truist Financial upped their price target on shares of Nextracker from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, November 1st. Northland Capmk raised Nextracker to a “strong-buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets dropped their price target on Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nextracker presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.10.

Nextracker Stock Performance

Shares of NASDAQ:NXT opened at $44.19 on Tuesday. The company has a market cap of $6.43 billion, a P/E ratio of 11.02 and a beta of 2.04. Nextracker Inc. has a one year low of $30.93 and a one year high of $62.31. The business’s 50-day simple moving average is $38.47 and its 200 day simple moving average is $39.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 2.21.

Insider Buying and Selling

In other news, President Howard Wenger sold 6,066 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $45.00, for a total value of $272,970.00. Following the completion of the sale, the president now owns 209,365 shares of the company’s stock, valued at approximately $9,421,425. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

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.