Nextracker Inc. (NASDAQ:NXT) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG increased its position in shares of Nextracker Inc. (NASDAQ:NXT) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,152,084 shares of the company’s stock after purchasing an additional 244,725 shares during the quarter. Deutsche Bank AG owned 1.48% of Nextracker worth $78,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NXT. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Nextracker during the 4th quarter worth approximately $227,000. Captrust Financial Advisors increased its stake in shares of Nextracker by 131.5% in the fourth quarter. Captrust Financial Advisors now owns 13,468 shares of the company’s stock worth $492,000 after acquiring an additional 7,650 shares during the period. Balyasny Asset Management L.P. raised its holdings in shares of Nextracker by 8,408.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 837,067 shares of the company’s stock worth $30,578,000 after purchasing an additional 827,229 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Nextracker during the fourth quarter valued at $1,859,000. Finally, Bank of America Corp DE boosted its holdings in Nextracker by 56.0% in the fourth quarter. Bank of America Corp DE now owns 715,835 shares of the company’s stock valued at $26,149,000 after purchasing an additional 257,064 shares during the last quarter. Institutional investors and hedge funds own 67.41% of the company’s stock.

Wall Street Analyst Weigh In

NXT has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price objective on Nextracker from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Piper Sandler set a $49.00 price target on Nextracker in a research report on Monday, April 21st. Royal Bank of Canada started coverage on Nextracker in a research report on Monday, March 17th. They issued an “outperform” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Finally, Robert W. Baird decreased their target price on shares of Nextracker from $59.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Nextracker currently has a consensus rating of “Moderate Buy” and an average price target of $55.70.

Nextracker Trading Up 4.3%

Shares of NXT opened at $46.51 on Monday. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The stock has a market cap of $6.77 billion, a PE ratio of 11.83 and a beta of 2.03. 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’s fifty day moving average is $42.09 and its two-hundred day moving average is $41.31.

Nextracker Company Profile

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.