Deutsche Bank AG Grows Stock Position in Nextracker Inc. (NASDAQ:NXT)

Deutsche Bank AG increased its stake in shares of Nextracker Inc. (NASDAQ:NXT) by 12.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,152,084 shares of the company’s stock after purchasing an additional 244,725 shares during the period. Deutsche Bank AG’s holdings in Nextracker were worth $78,616,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Nextracker during the 4th quarter worth $106,166,000. Invesco Ltd. boosted its stake in Nextracker by 52.2% in the fourth quarter. Invesco Ltd. now owns 3,874,875 shares of the company’s stock valued at $141,549,000 after acquiring an additional 1,329,456 shares in the last quarter. Balyasny Asset Management L.P. grew 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. Robeco Schweiz AG purchased a new position in shares of Nextracker during the fourth quarter worth about $22,112,000. Finally, Handelsbanken Fonder AB increased its position in shares of Nextracker by 36.0% during the fourth quarter. Handelsbanken Fonder AB now owns 2,278,217 shares of the company’s stock worth $83,223,000 after purchasing an additional 602,600 shares in the last quarter. Hedge funds and other institutional investors own 67.41% of the company’s stock.

Analyst Upgrades and Downgrades

NXT has been the subject of a number of research analyst reports. BMO Capital Markets upped their target price on Nextracker from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, January 29th. BNP Paribas raised Nextracker to a “strong-buy” rating in a report on Wednesday, January 29th. The Goldman Sachs Group raised their target price on shares of Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Susquehanna upped their price target on shares of Nextracker from $50.00 to $54.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Finally, Guggenheim increased their price target on shares of Nextracker from $50.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.70.

Nextracker Trading Up 4.3%

NASDAQ NXT opened at $46.51 on Monday. 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 stock has a market capitalization of $6.77 billion, a P/E ratio of 11.83 and a beta of 2.03. Nextracker Inc. has a 52-week low of $30.93 and a 52-week high of $62.31. The firm has a 50-day moving average price of $42.09 and a 200 day moving average price of $41.31.

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.