1,900 Shares in Nextracker Inc. (NASDAQ:NXT) Acquired by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp purchased 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 purchased 1,900 shares of the company’s stock, valued at approximately $69,000.

Several other large investors also recently modified their holdings of the company. Allworth Financial LP boosted its position in Nextracker by 52.4% in the fourth quarter. Allworth Financial LP now owns 803 shares of the company’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Nextracker by 14.7% in the 4th quarter. Signaturefd LLC now owns 2,344 shares of the company’s stock worth $86,000 after purchasing an additional 301 shares during the period. Principal Securities Inc. raised its position in Nextracker by 41.8% in the fourth quarter. Principal Securities Inc. now owns 1,390 shares of the company’s stock worth $51,000 after acquiring an additional 410 shares during the period. Quarry LP boosted its stake in shares of Nextracker by 61.5% during the 3rd quarter. Quarry LP now owns 1,119 shares of the company’s stock worth $42,000 after acquiring an additional 426 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Nextracker by 38.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,859 shares of the company’s stock valued at $68,000 after acquiring an additional 516 shares during the period. Institutional investors own 67.41% of the company’s stock.

Nextracker Trading Down 2.1 %

NXT stock opened at $42.75 on Friday. The firm has a fifty day moving average price of $45.11 and a 200 day moving average price of $39.99. Nextracker Inc. has a fifty-two week low of $30.93 and a fifty-two week high of $62.31. The firm has a market cap of $6.23 billion, a PE ratio of 10.88 and a beta of 2.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.96 and a current ratio of 2.20.

Nextracker (NASDAQ:NXT) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.31. Nextracker had a net margin of 20.12% and a return on equity of 41.22%. Sell-side analysts anticipate that Nextracker Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NXT has been the topic of a number of recent research reports. Barclays raised Nextracker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $47.00 to $60.00 in a report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on Nextracker from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Truist Financial reiterated a “buy” rating and set a $56.00 price objective (up from $54.00) on shares of Nextracker in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Nextracker from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $56.00 in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Nextracker from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.43.

Insiders Place Their Bets

In other Nextracker news, President Howard Wenger sold 6,066 shares of Nextracker stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $272,970.00. Following the completion of the transaction, the president now directly owns 209,365 shares of the company’s stock, valued at $9,421,425. The trade was a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David P. Bennett sold 9,801 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $49.90, for a total transaction of $489,069.90. Following the transaction, the chief accounting officer now owns 124,577 shares in the company, valued at $6,216,392.30. This trade represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,758 shares of company stock valued at $1,217,520 over the last ninety days. 0.27% of the stock is owned by insiders.

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.