Fort Washington Investment Advisors Inc. OH Invests $10.23 Million in Nextracker Inc. (NASDAQ:NXT)

Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Nextracker Inc. (NASDAQ:NXT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 280,000 shares of the company’s stock, valued at approximately $10,228,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP lifted its holdings in shares of Nextracker by 61.5% during the third quarter. Quarry LP now owns 1,119 shares of the company’s stock valued at $42,000 after purchasing an additional 426 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Nextracker by 83.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,209 shares of the company’s stock valued at $45,000 after buying an additional 549 shares during the period. Neo Ivy Capital Management bought a new position in Nextracker in the third quarter valued at about $74,000. Arcadia Investment Management Corp MI bought a new position in shares of Nextracker in the 3rd quarter worth approximately $75,000. Finally, Hilltop National Bank boosted its stake in shares of 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 acquiring an additional 891 shares during the last quarter. 67.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nextracker news, President Howard Wenger sold 6,066 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was 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 directly owns 209,365 shares in the company, valued at approximately $9,421,425. This represents a 2.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

NXT has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Nextracker from $60.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets dropped their price objective on shares of Nextracker from $56.00 to $44.00 and set a “market perform” rating for the company in a report on Monday, October 14th. Citigroup cut their target price on shares of Nextracker from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Nextracker from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Guggenheim reissued a “buy” rating and issued a $55.00 price objective on shares of Nextracker in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.10.

Nextracker Stock Down 3.0 %

NASDAQ:NXT opened at $41.20 on Thursday. The stock has a fifty day simple moving average of $38.65 and a 200-day simple moving average of $39.24. The company has a current ratio of 2.21, a quick ratio of 1.99 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 10.27 and a beta of 2.04. Nextracker Inc. has a twelve month low of $30.93 and a twelve month high of $62.31.

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.