Mizuho Raises Nextracker (NASDAQ:NXT) Price Target to $64.00

Nextracker (NASDAQ:NXTFree Report) had its target price raised by Mizuho from $56.00 to $64.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on NXT. Wells Fargo & Company lifted their price objective on shares of Nextracker from $57.00 to $68.00 and gave the stock an overweight rating in a report on Thursday. Truist Financial boosted their price objective on shares of Nextracker from $52.00 to $60.00 and gave the company a buy rating in a research report on Tuesday, January 23rd. The Goldman Sachs Group raised their target price on shares of Nextracker from $62.00 to $70.00 and gave the stock a buy rating in a report on Thursday. Cantor Fitzgerald reaffirmed an overweight rating and set a $52.00 target price on shares of Nextracker in a report on Thursday, October 26th. Finally, Barclays raised their price target on Nextracker from $50.00 to $51.00 and gave the stock an overweight rating in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $52.91.

Get Our Latest Stock Analysis on NXT

Nextracker Stock Up 2.6 %

NASDAQ:NXT opened at $57.99 on Thursday. The company has a market cap of $9.30 billion and a PE ratio of 31.01. The business’s 50 day moving average is $44.43 and its two-hundred day moving average is $40.87. Nextracker has a 52 week low of $28.24 and a 52 week high of $58.29.

Institutional Investors Weigh In On Nextracker

A number of institutional investors have recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. acquired a new position in shares of Nextracker during the 2nd quarter valued at $34,000. Tucker Asset Management LLC bought a new position in Nextracker during the third quarter valued at about $42,000. Tower Research Capital LLC TRC acquired a new position in Nextracker during the first quarter worth about $55,000. Global Retirement Partners LLC bought a new stake in Nextracker in the fourth quarter worth about $63,000. Finally, Shell Asset Management Co. acquired a new stake in Nextracker in the 2nd quarter valued at about $85,000. 44.28% of the stock is currently owned by institutional investors and hedge funds.

Nextracker Company Profile

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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.

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