Citigroup Raises Nextracker (NASDAQ:NXT) Price Target to $52.00

Nextracker (NASDAQ:NXTFree Report) had its price target hoisted by Citigroup from $45.00 to $52.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also issued reports on NXT. Barclays increased their target price on shares of Nextracker from $50.00 to $51.00 and gave the stock an overweight rating in a report on Monday, January 22nd. Mizuho boosted their target price on shares of Nextracker from $50.00 to $56.00 and gave the stock a buy rating in a research note on Wednesday, January 3rd. Truist Financial increased their target price on Nextracker from $52.00 to $60.00 and gave the company a buy rating in a report on Tuesday, January 23rd. Cantor Fitzgerald reaffirmed an overweight rating and set a $52.00 price target on shares of Nextracker in a report on Thursday, October 26th. Finally, Wells Fargo & Company raised Nextracker from an equal weight rating to an overweight rating and upped their price objective for the stock from $45.00 to $57.00 in a research report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $49.00.

Read Our Latest Analysis on NXT

Nextracker Trading Up 0.0 %

Nextracker stock opened at $45.27 on Wednesday. Nextracker has a 52-week low of $28.24 and a 52-week high of $49.82. The company’s 50 day moving average is $43.70 and its two-hundred day moving average is $40.61.

Institutional Trading of Nextracker

A number of large investors have recently made changes to their positions in the company. Keybank National Association OH boosted its position in shares of Nextracker by 7.1% in the 3rd quarter. Keybank National Association OH now owns 6,825 shares of the company’s stock valued at $274,000 after purchasing an additional 455 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Nextracker by 3.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,239 shares of the company’s stock valued at $652,000 after acquiring an additional 541 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Nextracker by 3.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 19,339 shares of the company’s stock valued at $777,000 after acquiring an additional 624 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Nextracker during the 2nd quarter valued at approximately $34,000. Finally, Tucker Asset Management LLC purchased a new stake in Nextracker during the 3rd quarter valued at approximately $42,000. 44.28% of the stock is owned by institutional investors and hedge funds.

About Nextracker

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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.

Further Reading

Analyst Recommendations for Nextracker (NASDAQ:NXT)

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