In a report released today, Kashy Harrison from Piper Sandler maintained a Buy rating on NEXTracker, Inc. Class A (NXT – Research Report), with a price target of $66.00. The company’s shares closed last Friday at $59.57.
According to TipRanks, Harrison is an analyst with an average return of -19.0% and a 32.16% success rate. Harrison covers the Technology sector, focusing on stocks such as Enphase Energy, SolarEdge Technologies, and First Solar.
Currently, the analyst consensus on NEXTracker, Inc. Class A is a Strong Buy with an average price target of $62.50, representing a 4.92% upside. In a report released on February 29, J.P. Morgan also maintained a Buy rating on the stock with a $67.00 price target.
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NXT market cap is currently $8.62B and has a P/E ratio of 35.60.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXT in relation to earlier this year. Last month, TPG GP A, LLC, a Major Shareholder at NXT sold 11,000,000.00 shares for a total of $622,600,000.00.
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NEXTracker, Inc. Class A (NXT) Company Description:
NEXTracker Inc provides integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed solar generation projects worldwide. Nextracker’s products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. It generates revenue from selling solar trackers, such as NX Horizon and NX Gemini, and from licensing TrueCapture software products.
Read More on NXT:
- Nextracker price target lowered to $67 from $73 at JPMorgan
- Nextracker Inc put volume heavy and directionally bearish
- Guggenheim starts Nextracker with a Buy, citing improvements in business
- Nextracker initiated with a Buy at Guggenheim
- A New Cause for Concern: NEXTracker, Inc. Class A Adds a New Corporate Activity and Growth Risk
